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Carnegie Launches Swedish Real Estate Fund

STOCKHOLM-The independent Nordic investment bank says it intends to raise SEK$1,000 million (US$147 million) and that initial institutional investors have subscribed for 40% of the total.

By Brian K. Miller | Updated on March 17, 2005

STOCKHOLM-Carnegie, the independent Nordic investment bank, has launched Carnegie Fastighetsfond Sverige AB, a new real estate fund. The fund is aimed at institutional investors seeking risk exposure to the Swedish real estate market.Carnegie says it intends to raise US$147 million (SEK$1,000 million) of equity for the fund. Initial institutional investors have subscribed for 40% of the total, according to an announcement by the company. Carnegie Asset Management’s head of business development Niklas Ekvall could not be reached Thursday for comment. In a prepared statement, she says the opportunity to invest indirectly in the Swedish real estate market is a new offering for its clients. Carnegie is an independent Nordic investment bank operating in Securities, Investment Banking, Asset Management and Private Banking.

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