Key Takeaways
- • Alma Property Partners closed its second pan-Nordic fund at €150 million in its first close, representing 60% progress toward a €250 million target with potential to raise up to €300 million total.
- • Capital was committed by nine European institutional investors, predominantly existing backers from Fund I, signaling strong investor confidence in the Stockholm-based firm's value-add strategy.
- • The fund targets value-creating investments across commercial and residential property sectors in Sweden, Finland, and Denmark, with Alma already executing acquisitions from an active pipeline.
- • Alma Property Partners is expanding its organization from ten to approximately 15 employees and establishing a Copenhagen office by end of 2019, with recent hires including Stefan Albinsson as Partner and Head of Asset Management.
- • The firm expects to complete capital raising for Fund II during Q2 2020, with management projecting continued deal momentum across the Nordic region.
Summary
Alma Property Partners, a Stockholm-based real estate investment firm founded in 2014, has achieved a first close of just over €150 million for its second pan-Nordic opportunistic fund, Alma Property Partners II. The capital raise demonstrates strong institutional investor appetite for Nordic real estate opportunities, with nine European institutional investors committing capital primarily from existing relationships with the firm or prior Fund I participation.
The fund is targeting €250 million in total commitments with the flexibility to raise up to €300 million, meaning the first close represents approximately 60% of the base target. Simon de Château, Partner and Chief Investment Officer, emphasized investor confidence: "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." The firm's investment pipeline is already generating returns, with several acquisitions completed for Fund II since the first close announcement.
Alma Property Partners II focuses on value-add and opportunistic real estate across all property sectors—commercial, residential, and other segments—throughout the Nordic region. This strategy builds on the firm's track record from Fund I and reflects the growing institutional capital allocated to Nordic real estate markets.
The firm is simultaneously executing an organizational expansion to support growth ambitions. Current headcount stands at ten employees across offices in Stockholm and Helsinki, with plans to scale to approximately 15 people by end of 2019 and establish a Copenhagen office to deepen market presence in Denmark. Recent senior hires include Stefan Albinsson as Partner and Head of Asset Management, with additional investment team members joining in February. Management expects to complete capital raising during Q2 2020, indicating a 6-9 month fundraising window following the first close.
The fund is targeting €250 million in total commitments with the flexibility to raise up to €300 million, meaning the first close represents approximately 60% of the base target. Simon de Château, Partner and Chief Investment Officer, emphasized investor confidence: "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." The firm's investment pipeline is already generating returns, with several acquisitions completed for Fund II since the first close announcement.
Alma Property Partners II focuses on value-add and opportunistic real estate across all property sectors—commercial, residential, and other segments—throughout the Nordic region. This strategy builds on the firm's track record from Fund I and reflects the growing institutional capital allocated to Nordic real estate markets.
The firm is simultaneously executing an organizational expansion to support growth ambitions. Current headcount stands at ten employees across offices in Stockholm and Helsinki, with plans to scale to approximately 15 people by end of 2019 and establish a Copenhagen office to deepen market presence in Denmark. Recent senior hires include Stefan Albinsson as Partner and Head of Asset Management, with additional investment team members joining in February. Management expects to complete capital raising during Q2 2020, indicating a 6-9 month fundraising window following the first close.
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