Alma raises €160 million in first close for Alma Fund IV

Seven existing institutional investors from the Nordics and Germany support the first close of Alma’s fourth Nordic value-add real estate fund, which is targeting €500 million of equity capital and has already started investing.

Alma Property Partners held a first close of €160 million for Alma IV, the firm’s fourth diversified Nordic value-add real estate fund. The first close was completed with commitments from seven institutional investors from the Nordics and Germany, all of which invested in Alma’s prior funds. Alma IV is targeting total equity capital of €500 million and represents the next step in the continued growth of Alma’s Nordic investment platform.

“We recently completed the investment period for Alma III and have initiated several divestments from a high-quality portfolio spanning residential, light industrial, care and city-center commercial assets. Alma IV is entering the market at an attractive point in the cycle, with the continued buyer’s market generating compelling risk-adjusted opportunities. We will remain disciplined and focus primarily on cash flow-generating assets where active ownership can unlock additional value, particularly in ‘beds and sheds’, hotels and selected city-center commercial segments across Sweden, Denmark and Finland,” says Simon de Château, Founding Partner & Chairman at Alma Property Partners.

Alma IV has already launched three light industrial aggregation strategies focused on Greater Stockholm, Greater Malmö and Greater Helsinki and is actively pursuing investments in the residential and hotel sectors.

“We are grateful to our institutional investors for their continued support. The fact that all seven investors in the first close have invested in Alma’s prior funds represents a strong vote of confidence in our team, track record and strategy. We look forward to building on the strong portfolio created in Alma III by continuing to invest in several proven themes and working with many of the local asset management partners that have contributed to our success,” says Sloan Wobbeking, Founding Partner & CEO at Alma Property Partners.

Alma’s structure and investment model are distinguished by a high degree of alignment with its investors. The firm is wholly owned by its partner group, and all Alma employees invest alongside the institutional investors through the firm’s profit-sharing structure. Alma IV will continue the firm’s proven strategy of identifying, creating and partnering with leading local asset management teams to generate proprietary investment opportunities in highly competitive market segments and drive value creation at the asset level.