Global law firm White & Case LLP has advised Areim, a Stockholm based real estate fund manager and advisory firm, on the structuring, establishment and initial closing of its second real estate fund, Areim Fund II, a Swedish focused private equity real estate fund.
The investors participating in the initial closing have together committed capital of SEK 1.6 billion (EUR 190 million). Areim is aiming to complete capital raising for the fund within six months’ time and is targeting a total haul of SEK 3 billion (EUR 350 million).
Similar to its predecessor, Areim Fund II will pursue value-added investments in the form of office repositioning, retail investments and residential development projects in Sweden with a focus on Stockholm. The fund is an eight-year vehicle with a three-year investment horizon and a total investment volume of approximately SEK 6-7 billion (EUR 700-820 million) when fully committed. Areim Fund II is advised by AREIM AB.
The White & Case team was led by Stockholm partner Ulf Johansson, who was assisted by associates Martin Järvengren and Mina Lindgren.
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