The real estate debt fund Brunswich Real Estate Capital III (BREC III) has received an investment of around SEK 10bn (EUR 0.97bn) from four pension funds belonging to Swedish Folksam.
This is the largest ever single investment for the Folksam group. The Swedish pension and insurance company has previously invested SEK 3bn (EUR 290m) in the fund's predecessor BREC II. Like the previous fund, the third senior debt fund will be an unleveraged debt fund offering financing of commercial property in growth regions.
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