Seller Details:
Areim is a leading independent Nordic fund manager and property owner, headquartered in Stockholm, and with offices in Copenhagen, Helsinki, Oslo, and London. The firm manages $5.75 billion in assets and holds a diversified real estate portfolio across the Nordic region, spanning light industrial, residential, office, retail, and data centre sectors. Founded in 2003, Areim has built its reputation by investing in underdeveloped real estate with the potential for transformation and long-term value creation. The firm takes a hands-on approach to asset management, leveraging deep market insight and operational expertise to unlock value throughout the ownership lifecycle.
Buyer Details:
Established in 1988 and headquartered in Jeonju, South Korea, National Pension Service (NPS) is the world’s third-largest public pension fund, managing over KRW 1,213 trillion (approx. USD 830 billion) in assets as of Q1 2025. Through its dedicated investment arm, NPS Investment Management, NPS oversees the National Pension Fund (NPF) with a mandate to ensure long-term financial stability and sustainable returns for Korea’s retirement system. NPS maintains a globally diversified portfolio, with allocations of 47.5% to equities, 34.9% to fixed income, and 17.4% to alternative investments.
Transaction Summary:
NPS, the world’s third-largest pension fund by total assets, is becoming a minority stakeholder in Areim via its strategic partnership with Townsend Group (“Townsend”). On behalf of NPS, the investment was led by Townsend who is a leading advisor and partner to institutional investors globally focused on real estate and real assets. NPS will support Areim’s growth ambitions for the coming years, while the Areim team remains independent in its operations.
Following the transaction, Areim will remain an independent real estate manager with a focus on the Nordic market. The responsibility for managing the business and operations of Areim will remain solely with the existing Areim team. Consequently, the firm’s senior management and partners will maintain their full commitment to the investment activities of the Areim funds and to the firm’s long-term growth.