Sparinvest Property Investors holds final close of €505m
Sparinvest Property Investors has held a final close of €505 million ($564.4 million) for its Sparinvest Property Fund IV, according to a statement.
The fund received commitments mainly from Nordic institutional investors, including PKA, SEB Pension, Lærernes Pension, JØP and DIP, for its largest fund ever.
The fund will pursue a small and mid-market strategy, investing with local operating partners focusing on the repositioning of existing properties and development of new buildings. The fund has begun investing in the United States, Europe and Asia mainly in the residential and industrial sectors.
The fund is targeting net returns of 11 percent.
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