Alma Property Partners raises €350 million of equity for Fund III

Alma Property Partners has raised nearly €350 million ($384 million) of equity capital for Alma Property Partners III, the firm’s third pan-Nordic opportunistic real estate fund.

Alma focuses on value creating investments in the commercial and residential property sectors in Sweden, Finland, Denmark and Norway. The investors are mainly institutions from Sweden, Germany and the United Kingdom. The fund has an investment capacity of more than €800 million ($878 million).

“The market for raising capital was difficult during this fundraising period and we are grateful to the investors from our prior funds who provided most of the capital for Fund III,” said Sloan Wobbeking, partner and CEO at Alma Property Partners. “We also raised capital from a handful of high-quality European institutional investors that are new to Alma, including our first investors from Switzerland and Norway. With fresh capital at hand, Alma will be very active on the acquisition side in