The new fund invests in a broad set of sectors across the Nordics with a focus on the capital city regions. It will acquire well-located cash-flowing properties with room for improvement through active asset management. The fund has ambitious ESG-goals and will pursue a GRESB 5-star rating and strong reductions in CO2 emissions.
“The open-ended core plus strategy makes perfect sense for us. We will use our extensive value-add experience as leverage and generate strong risk-adjusted returns to our investors, while also providing a level of liquidity not possible with closed-ended funds”, says David Neil, CEO of Genesta.
“Further, the open-ended nature of the fund means we can hold investments for a long time, allowing us to capture long-term trends.”
Genesta is pleased to have SPK Pension Tjänstepensionsförening and the multi-manager real estate team of Credit Suisse Asset Management as cornerstone investors. Both investors have been actively involved in the tailoring and structuring of the investment strategy of the fund, optimizing it for institutional investors. The fund will continuously seek capital from institutional investors as attractive opportunities arise.