Storebrand launches new real estate company

Norwegian financial services company Storebrand is establishing a new company called Storebrand Real Estate to centralize its expertise and focus on properties.

Truls Nergaard

This new entity will provide institutional and professional investors with more streamlined and scalable access to Nordic real estate investments. It also serves to simplify Storebrand's corporate structure by consolidating property investment and management under one roof.
As part of this restructuring, Storebrand Fastigheter, the real estate business in Sweden, will become a Swedish branch of Storebrand Real Estate. Capital Investment, which currently manages Danish real estate operations, will function as a subsidiary under Storebrand Real Estate. 
Storebrand Real Estate, which manages €9 bn, is a wholly-owned subsidiary of Storebrand Asset Management, itself owned by Storebrand. 
Storebrand Real Estate has received approval as an AIF manager from the Norwegian Financial Supervisory Authority, ensuring strong governance, risk management, and investor protection.
Additionally, Anders Palmgren has been appointed to the Board of Directors of Storebrand Real Estate.
Jan Erik Saugestad, CEO of Storebrand Asset Management and Chairman of the Board of Storebrand Real Estate, stated: “Anders Palmgren brings with him considerable experience from Nordic property management and not least international capital raising. I am pleased that Anders is joining the Board and thereby strengthening our further investment in real estate as an alternative asset class.”
Truls Nergaard, CEO of Storebrand Real Estate, commented: “The new company Storebrand Real Estate enables closer collaborations and creates more clarity in the Nordic real estate market. We also maintain our local roots with offices in our respective markets. With the new organisation, we are advancing our positions, not least through the new SNRE Nordic core plus funds.”