Fundraising - JUNE 29, 2016

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Niam fund holds €134m first close

by Andrea Waitrovich

Niam has announced the first close for its core-plus fund, raising €134 million ($149 million), which represents 45 percent of its targeted fund size of €300 million ($334 million).

The SCS-SIF limited partnership is established in Luxembourg. It targets real estate investments in the Nordic region.

Niam Nordic Core-Plus II will be an income-producing fund with a net IRR target of 8 percent and an annual income yield of 5 percent. The fund will specifically target office, retail and residential property investments in the four Nordic countries. The fund will invest through Niam’s organization locally located in Stockholm, Oslo, Helsinki and Copenhagen and is a continuation of the investment platform established with Niam Nordic Core-Plus I.

Niam is currently actively managing a real estate portfolio of €2.9 billion ($3.2 billion) through its four funds: Niam IV, Niam V,

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