Alma Property Partners holds first close of €150 million for second Nordic fund

Stockholm-based real estate investment company has raised capital from a group of institutional investors and is already 60% of the way toward the target amount.

Alma Property Partners, a real estate investment company founded in 2014, has raised just over €150 million for its second pan-Nordic opportunistic fund, Alma Property Partners II. The capital was committed primarily from nine European institutional investors. Alma is targeting to raise €250 million in total but may raise up to €300 million for Fund II.

“We are very grateful for the continued trust and support from our investors. Most of the investors who contributed to the first close were either from Fund I or had invested with me previously. We have an active investment pipeline and we have already made a few acquisitions for Fund II,” says Simon de Château, Partner and CIO of Alma Property Partners.

Alma Property Partners has ten employees and offices in Stockholm and Helsinki. The organization is growing and the plan is to have approximately 15 people and a new office in Copenhagen by the end of 2019.

“We are pleased with the result of the first close and we expect to finish raising capital during the second quarter of next year. We are now focused on continuing to build the organization. We recently added Stefan Albinsson as Partner and Head of Asset Management and another senior colleague will join the investment team in February. Next year will be exciting as we are planning to open an office in Copenhagen and hire a few more members of the investment team,” says Sloan Wobbeking, Partner and CEO of Alma Property Partners.