Aberdeen Asset Management has held a first close of the Aberdeen Residential Sweden Fund with €115 million from institutional investors. The fund targets high-quality rental housing in growth areas of Sweden, using a conservative investment strategy.

“Housing in Sweden is experiencing strong investor interest, and we feel we have managed to fill a gap in the market with this new product for mid-sized institutional investors,” says Göran Bengtsson, head of investment management property in Sweden at Aberdeen. “It is very gratifying that the first closing was so successful, giving us a good opportunity to finalise interesting transactions in the coming months.”