Northern Horizon closes fourth Nordic aged-care fund

Northern Horizon, an independent real asset manager in Northern Europe, has confirmed the final closing of its fourth Nordic aged-care fund, ACIV, with €324 million ($341 million) of capital commitments. The firm was targeting €400 million ($421 million), according to its website.

The fund received equity commitments from both follow-on and new institutional investors, including prominent pension funds, insurance companies, asset managers, endowments and family offices from across Germany, France, the United Kingdom, Finland, Switzerland and Iceland.

ACIV is the largest fund in the firm’s age care series. The vehicle invests in modern, fit-for-purpose care homes across the Nordics. Northern Horizon said the fund’s strategy is built on the global demographic megatrend of an aging population, which is generating strong growth in the underlying aged-care real estate sector.

“We are pleased by the continued interest from our existing and new investors, who