Cityhold Property AB will be the name of the company for European property investments jointly owned by the First and Second Swedish National Pension Funds.
Cityhold Property will be operated in cooperation with Catella, which will assist the company with resources and expertise under a long-term management agreement. Senior personnel have now been appointed in Sweden and on the key markets in Europe.
The newly-formed company will focus on long-term investments in commercial properties in prime locations in major cities in Europe. Per Sjöberg will be the Managing Director of Cityhold Property. He hails most recently from his own property company, Reiton AB, and was previously Managing Director of CLS Holdings plc in London. Per Sjöberg possesses many years' experience in the international property business.
Cityhold Property's other senior personnel comprise Andrew Smith, (Investment Manager), Sir Julian Berney (Asset Manager, London), as well as Christophe Murciani, (Asset Manager, Paris) and Robb Simpson (investment analyst). Recruitment of a few additional key employees, for example on the German market, is underway.
"I am very proud to have been appointed to build up a diversified property portfolio with stable cash flows on behalf of the First and Second Swedish National Pension Funds.
"I'm also proud of the strong team of employees that we have put together, possessing long and broad experience of the European markets," says Per Sjöberg, Managing Director of Cityhold Property AB.