Sparinvest Property Fund holds final closing at €452 million (DK)

In December 2006, Sparinvest Property Fund, the global property fund of funds, held its final closing with total commitments of €452 million ($640 mln) from 11 Danish institutional investors.

"We are very honored and pleased with the significant support we have received from the investors. The considerable size of the Fund will enable us to achieve a significant level of risk diversification by investing in top performing real estate funds in the US, Europe and Asia", said Managing Partner Bo W. Jensen, Sparinvest Property Investors.

The Fund has already made commitments to two European funds, two funds in the US and one fund in Japan. When the fund is fully invested in 2008 the portfolio is expected to consist of 12-14 funds in total.

"The current five funds in our portfolio provide a strong platform for the future performance of the Fund. This will be further enhanced in 2007 as we expect to carefully select six additional funds, specialized within specific geographical regions and/or property sectors", said Bo W. Jensen.

Source: Sparinvest Property Investors

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