Northern Horizon raises additional €220m

Nordic social infrastructure asset manager Northern Horizon has secured an additional €220 mln in equity for its Aged Care Social Infrastructure Fund (ACSIF).

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This new commitment, including investments from KZVK Dortmund and Helaba, boosts the fund's total equity to over €600 mln, with assets under management (AUM) reaching approximately €900 mln.
Concurrently, Northern Horizon has invested €120 mln from this new capital into acquiring several high-quality care homes and development projects across its core Nordic markets. This rapid deployment of funds highlights the company's efficiency.
The ACSIF, launched in 2024, aims to address the growing shortage of modern care facilities in the Nordics, driven by a rapidly aging population. The fund focuses on investing in new, purpose-built care homes, as well as forward purchase and funding projects.
The new capital will enable Northern Horizon to expand its strategy, deliver greater value to investors, and reduce leverage, solidifying its position as a leader in Nordic social infrastructure. The equity was primarily raised from German institutional investors, with additional contributions from existing investors in the UK and Switzerland, marking the largest single investment in Northern Horizon's history.
Christoffer Abramson, Group CEO, Northern Horizon, said: “Additional investments are urgently needed to keep up with increasing demand for modern care assets in our region, and the new equity will enable us to grow our platform further in close cooperation with the leading operators, developers, and municipalities in the Nordics. We are very grateful for the trust the current and incoming investors are placing in us. Encouragingly, we are seeing the momentum in our fundraising continuing, so we are very optimistic about the next growth phase of our journey.”
Andrew Smith, partner and head of Group Business Development, commented: “It has been challenging times in the capital raising area for many managers, so we are honoured by the continued support from existing LPs and the new LPs we are onboarding.  To see that the firm is bringing in the largest tickets in its history is credit to the robust market fundamentals here in the Nordics with high growth potential, solid yields, and a very attractive risk profile, and they also value the social impact. We see increased global interest from international institutional investors and this re-confirms our plans to remain dedicated to this segment and be the market leader in the social infrastructure space here in the Nordics”.
Jussi Rouhento, fund manager for Aged Care and Social Infrastructure Fund, added: “Having been with the firm since the inception of Fund 1 in this space and with now 17 years of segment-specific expertise combined with strong networks in each country have helped us build a best-in-class portfolio of modern, energy efficient assets, confirmed by the GRESB 5-stars rating. We now have significant capital to deploy, we have a strong off-market pipeline, and we will continue to be very selective in the best interests of our investors.”
During the summer, ACSIF completed several key acquisitions across its primary markets:
In Denmark, it acquired a portfolio of three aged care properties totalling 17,500 m2 and 182 care beds from AP Pension through an off-market deal. 
In Finland, the Fund purchased a portfolio of two existing properties in Espoo and Lahti from eQ Community Properties Fund, and a forward-funded property in Espoo, adding 6,200 m2 and 127 care beds.
In Sweden, ACSIF entered into a forward-purchase agreement with Skanska for a care home. Upon its completion in 2027, this facility will provide 80 care beds for elderly residents and will be managed by Falun Municipality.
With these transactions, ACSIF's asset portfolio now includes 70 high-quality, fully leased healthcare properties located in Sweden, Finland, and Denmark.
UBS Investment Bank’s Real Estate Private Funds Group served as the Placement Agent for Northern Horizon during this fundraising period.