Swedish private equity firm Niam has completed the first closing of its fifth opportunistic real estate fund Niam Nordic V, having raised EUR 125 mln of capital from mainly North American and European institutional investors. Niam Nordic V has a target fund size of EUR 600 mln, providing a total investment capacity of about EUR 2.2 bn.

Niam Nordic V will focus on commercial real estate in the Nordic and Baltic regions, including office, retail and logistics.

'Through Niam Nordic V we can continue our successful investment activities. We will complete additional closings throughout the year with a target of EUR 600 mln in equity. This will make Niam Nordic V one of the biggest opportunistic real estate funds in Europe with an investment capacity of approximately €2.2 billion', said Johan Bergman, CEO of Niam.

The real estate investments will be made through Niam's organization in Sweden, Finland and Norway and can include everything from new development projects to existing properties/portfolios with value-add opportunities.