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
"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
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.
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Source: Pohjola Pankki Oyj via Thomson Reuters ONE
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