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Fundraising - JANUARY 12, 2022

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NREP secures another €608m for its largest core-plus Nordic fund

by Kali Persall

Nordic real estate investor NREP has completed a second close of its largest-ever core-plus Nordic fund, NREP Income+ (NIP), adding €608 million ($690 million) in additional funding.

This latest closing grew the fund by 50 percent, bringing the total equity raised to €1.6 billion ($1.8  billion). Two-thirds of commitments were re-ups from existing investors, with the remainder from new institutions. The globally diversified institutional investor base predominantly comprises pension funds and insurance companies.

The open-ended fund is aimed at long-term investments into modern logistics facilities, middle-income residential, offices and care homes. To date, the fund has committed nearly €1 billion ($1.2 billion) to 20 deals.

“Supported by enduring consumer trends and demographic developments, NIP allows us to extend our long-term approach even further to generate more income-orientated value,” said Claus Mathisen, CEO of NREP. “Income-plus investin

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