Sweden’s Alecta pours $780m in U.S. healthcare and life-sciences funds

Swedish pension provider Alecta has disclosed three large investments in U.S. healthcare and life-science real estate, totaling $780 million.

At the end of 2019, Alecta committed $230 million to a joint venture agreement consisting of Kayne Anderson/Remedy Medical Properties and Physicians Realty Trust. The investment was in a 271,000-square-meter (2.9 million-square-foot) medical office building real estate portfolio, spanning 19 U.S. states.

Then in June 2020, Alecta committed $250 million to an additional co-investment with Kayne Anderson/Remedy Medical Properties, in KACORE JV. This follow-on investment was made in a medical office/senior housing real estate portfolio, consisting of 140,000 square meters 1.5 million square feet) of medical office and 2,032 units of senior housing assets in 17 U.S. states.

More recently, Alecta committed $300 million to Blackstone’s BioMed Realty fund, an open-ended vehicle. According to Alecta, BioMed is the largest unlist