Niam fund holds €800m final close
Nordic private equity firm Niam has completed fundraising for its sixth opportunistic real estate fund, Niam Nordic VI, with total equity commitments of €800 million ($872 million). The fund originally had a €750 million ($817 million) fundraising target but increased it to €800 million following investor interest. “Although demand for Niam VI was high and we could have taken more capital, we wanted to be sure to have a fund that is of appropriate size for the current market situation in the Nordic region, "says Johan Bergman, managing director at Niam. Investors consist mainly of a number of global pension funds, foundations and financial institutions. The fund will target office, retail and residential property investments and be invested through Niam’s offices in Stockholm, Oslo, Helsinki and Copenhagen.