NRP launches new Nordic-focused fund

NRP Asset Management, an Oslo-based Nordic Real Estate alternative investment manager, has launched a new real estate fund, Fund VIII, with the same strategy as previous funds.

The firm is targeting €200 million ($246 million) in total fundraising and has raised €50 million ($62 million) so far. The fund officially launched in November 2017.

“Going forward, despite the current high demand for logistics properties, we will be using the same strategy and investment approach that has secured value for our investors so far, taking into consideration the risk of rising interest rates and keeping our eyes open for signs of a maturing market,” said Eirik Forthun, NRP fund manager. Forthun said the firm expects the first €50 million ($62 million) to be fully invested during first quarter 2018.

The fund’s predecessor, Fund VII, is now fully invested with a portfolio of €560 million ($690 million) in Nordic commercial property, of which a large share is inve