Finnish institutional investors' international real estate fund of funds launched
(Thomson Reuters ONE) -
A real estate fund of funds set up by Pohjola Property Management Ltd called
Real Estate Debt and Secondaries Ky (REDS) has accumulated EUR 100 million at
the first closing. The funds will be invested in international real estate
funds' secondary interests, real estate loan funds and other investment
instruments that specifically utilise the real estate market situation.
According to Markku Mäkiaho, Managing Director of Pohjola Property Management
Ltd, the fact that REDS was set up is a sign of a gradual change in the market
situation.
"Finnish institutions are again prepared to invest in foreign real estate
through funds and other indirect investment instruments," says Mr Mäkiaho.
"This fund is a good indication of the level expertise in indirect investment at
Pohjola Property Management Ltd and the trust shown to it by investors. The
three pillars of our investment strategy respond well to the current market
situation in which the economic uncertainty and tightening regulation create
good purchase and financing opportunities to competent investors."
Pohjola Property Management Ltd collected the group of investors for REDS and
act as the fund's advisors. OP-Pohjola Group's insurance companies own 20% of
the structure. In practice, REDS' investment strategy is carried out by Real
Estate Director Pami Pihlström and Portfolio Manager Antti Palkén, who have long
careers in indirect investment at Pohjola Property Management Ltd.
Pohjola Property Management Ltd is part of Pohjola Group and OP-Pohjola Group.
It has long experience in international real estate investment and
implementation of investment strategies utilising similar markets both on behalf
of mandate customers and a former real estate fund.
For more information:
Pohjola Property Management Ltd, Managing Director Markku Mäkiaho, tel. +358
(0)10 252 7272
Real Estate Director Pami Pihlström, tel. +358 (0)10 252 7277.
Pohjola Bank plc
Pohjola is a Finnish financial services group which provides its customers with
banking, non-life insurance and asset management services. Our mission is to
promote the prosperity, security and wellbeing of our customers. Profitable
growth and an increase in company value form our key objectives. Pohjola Group
serves corporate customers in Finland and abroad by providing an extensive range
of financial, investment, cash-management and non-life insurance services. We
offer non-life insurance and private banking services to private customers.
Pohjola Series A shares have been listed on the Large Cap List of the NASDAQ OMX
Helsinki since 1989. The number of shareholders totals around 32,000. Pohjola's
consolidated earnings before tax came to 374 million euros in 2012 and the
balance sheet total amounted to 45 billion euros on 31 December 2012. Pohjola is
part of OP-Pohjola Group, the leading financial services group in Finland, which
has over four million customers.
www.pohjola.com
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Source: Pohjola Pankki Oyj via Thomson Reuters ONE
[HUG#1684913]
Unternehmensinformation / Kurzprofil:
Datum: 13.03.2013 - 09:30 Uhr
Sprache: Deutsch
News-ID 238865
Anzahl Zeichen: 3826
contact information:
Town:
POHJOLA
Kategorie:
Business News
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"Finnish institutional investors' international real estate fund of funds launched"
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