Northern Horizon holds €121m first close of Nordic senior living fund
Northern Horizon Capital has held a first close of €121 million ($136.67 million) for its Nordic Aged Care Fund, according to a statement.
The fund, which launched in December 2014, is seeking to raise €250 million ($282.38 million) and is expected to hold a final close by year-end 2016.
The fund follows two predecessor funds, Healthcare I and Healthcare II, which invested exclusively in senior living facilities in Finland.
“We already see a substantial shortage of care facilities across the Nordics to accommodate the present and future need for more beds and more flexible care,” said Michael Schönach, CEO of Northern Horizon, in a statement.
Nordic Aged Care Fund has expanded its focus from the previous funds to include Sweden, Norway and Denmark, as well as Finland. The fund will invest in a