Pohjola Pankki Oyj : Finnish institutional investors' international real estate fund of funds launched 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)10252 7272 Real Estate Director Pami Pihlström, tel. +358 (0)10252 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 ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Pohjola Pankki Oyj via Thomson Reuters ONE HUG#1684913
Pohjola Pankki Oyj : Finnish institutional investors' international real estate fund of funds launched
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