Investment manager Northern Horizon Capital is selling its property management subsidiary BPT Real Estate to a private equity fund managed by BaltCap.
Investment manager Northern Horizon Capital is selling its property management subsidiary BPT Real Estate to a private equity fund managed by BaltCap.
The parties agreed not to disclose the financial terms of the transaction, which is expected to close in September 2015.
‘The sale of BPT Real Estate is the logical conclusion of the last couple of years’ gradual process of establishing and empowering BPT Real Estate as a property management company that is independent of Northern Horizon’s core investment management business,’ said Michael Schönach, CEO of Northern Horizon Capital Group.
‘The divestment allows Northern Horizon to fully focus on growing its core investment management business. In that segment we see many interesting opportunities to offer to our investor clients new investment products not just in the Nordics and Germany, but also in the Baltics where BPT Real Estate’s activities are focused,’ he added.
Northern Horizon Capital focuses on investment in Northern Europe, in particular the countries around the Baltic Sea.
The company is the result of a merger in 2011 between BPT Asset Management and Evli Property Investments. Northern Horizon Capital currently manages eight real estate funds and segregated property management mandates totalling assets under management of over €1 bn.