Aberdeen Property Investors has announced the fourth closing of the Aberdeen Property Fund SICAV Pan-Nordic, which has raised a further €125 million from British and French institutions as well as Norwegian investors.
The fund, which had its first closing in October 2006, has now raised a total of approximately €370 million in equity from domestic and international investors.
Aberdeen expects that property in the Nordic region will provide stronger returns than property in other western European countries. This analysis is backed by a strong macroprognosis for the Nordic region from Aberdeen's in-house research and strategy team. In addition, property market fundamentals have improved strongly throughout the Nordic region over the last years with vacancies moving lower and strong growth in rent.
Trygve Sletteberg, Fund Manager for Aberdeen Property Funds SICAV Pan- Nordic, comments, "At a time when many Nordic investors are looking abroad, it is interesting to note that foreign investors are looking to invest in the Nordic region. It is also pleasing that they are choosing our product from a range of competing funds. We believe that this is because Aberdeen has demonstrated the ability to invest money quickly and achieve a market-leading return."