The Folksam Group, an insurance company in Sweden, and Aberdeen Standard Investments have launched and held a first close for its AIPP Folksam Europe II, a real estate fund of funds open only for investors from the Folksam Group.
The intention is to invest €300 million ($359 million) in European real estate over the next three to four years with an initial commitment of €100 million ($120 million). Investments will mainly be in non-listed funds but may include joint ventures and co-investments.
“We will continue to source attractive opportunities with a low risk profile,” said Lars Graneld, senior investment specialist, real estate. “Once fully invested, the portfolio will be well diversified across European markets, sectors, managers and strategies.”
