Finnish pension fund targets Swedish real estate
Keva, a Finnish pension fund, has announced plans to broaden its real estate investments to other Nordic countries. According to a statement, the Finnish pension fund will start in Sweden.
“Swedish real estate will provide a good diversification to the domestic real estate holdings,” Keva said in the statement.
The investments could be in the form of joint ventures with other parties in Sweden. HEA Property Partners will manage and develop the assets Keva acquires.
Currently, 7 percent of Keva’s €45.2 billion ($49.8 billion) investment portfolio is invested in Finnish real estate. The largest portion of Keva’s real estate investments is in office properties, representing 35 percent of the portfolio, while retail and residential make up 25 percent each, and the rest is in other properties.
Keva is responsible for the pensions of 1.3 million employees of local governments, the state, the Evangelical Lutheran Church