Frankfurt-based investment and asset management group founds new joint venture in Copenhagen, NAS Real Nordics A/S, in partnership with Danish multi-family office
Planned launch of Luxembourg-based alternative investment fund (RAIF) with target size of roughly EUR 1 billion
Investment objective is to build a diversified portfolio of northern European core-plus properties
Frankfurt, 10 June 2021. Investor and asset manager NAS Invest Group (NAS) is expanding its business into the Nordic region. Together with a multi-family office serving prominent Danish business owners, the Frankfurt-based company has established a new joint venture based in Copenhagen, one of the great capitals of Scandinavia with the medium-term objective of building a diversified real estate portfolio in the northern European countries. Investments will be principally in core-plus properties within the office, retail and logistics asset classes and with a geographical focus on Denmark, Sweden, Norway and Finland. The capital will be raised and managed through a Luxembourg-based reserved alternative investment fund (RAIF) structure, the launch of which is currently in preparation.
In the view of the joint venture partners, the real estate market within the Nordic countries remains highly attractive for investors even after several years of boom. In future, NAS will contribute its many years of real estate transaction and asset management expertise also in the Northern European region and thus significantly expand its investment strategy, especially for institutional and semi-institutional investors.
Within five years of its introduction, the reserved alternative investment fund (RAIF) structure has already matured into a successful investment vehicle for discerning institutional and semi-institutional investors. As an alternative investment fund for institutional and professional investors, the RAIF does not require product approval by CSSF, the Luxembourg financial supervisory authority. Instead, CSSF supervises only the alternative investment fund manager (AIFM) in its capacity as the responsible management company along with the custodian bank. The RAIF structure is a bundling vehicle which offers the flexibility which is so important for alternative investing and is thus a highly advantageous solution especially for the needs of investors such as family offices and foundations. Because the fund structure allows the creation of sub-funds, a single RAIF can support an entire product family.