Genesta has completed the first closing of its fifth fund, GNRE Core Plus Open-ended, with €152 million ($179 million) of capital commitments.
SPK Pension Tjänstepensionsförening and Credit Suisse Asset Management were cornerstone investors in the fund. Both investors have been actively involved in the structuring of the investment strategy, optimizing it for institutional investors.
The new fund invests in a broad set of sectors across the Nordics, with a focus on the capital city regions. It will acquire well-located, cash-flowing properties with room for improvement through active asset management.
The fund has what Genesta calls “ambitious ESG goals” and will pursue a GRESB five-star rating and strong reductions in carbon dioxide emissions.
“The open-ended core-plus strategy makes perfect sense for us,” said David Neil, CEO of Genesta. “We will use our extensive value-add experience as leverage and generate strong risk-adjusted returns t
