Non-UCITS Evli Rental Yield (AIF) Fund acquired the Kone Building property in Keilaranta, the current headquarters of Kone Corporation, from Hansa Invest. The iconic, premium high-rise building that was built for Kone in 2001 occupies a prime seafront location near to the Keilaranta metro station.
Since the arrival of the metro, the area has evolved and continues to evolve into an increasingly prominent business district. As a result of the transaction, office properties now make up more than 40 percent of the fund’s portfolio.
The fund has also agreed on debt financing with Nordea. Debt financing supports the fund’s growth and improves returns on equity. “We are actively seeking new investments with strong cash flow in Finland’s growth centers,” says Heidi Launo, the Fund’s Portfolio Manager.
During the year, to support the growth of the non-UCITS Evli Rental Yield Fund, the portfolio management was reinforced with two new recruits. Tero Mäki started in December as a Senior Analyst. Mäki previously worked for PricewaterhouseCoopers Oy in a financial transaction team focusing on real estate. Earlier this year, the fund’s portfolio management was reinforced with a new recruit from Sponda Plc, when Saskia Lammi started as an Asset Manager for real estate assets.
Non-UCITS Evli Rental Yield (AIF) Fund has subscriptions on a quarterly basis. In addition to Evli Rental Yield Fund, Evli has two closed-end funds: EAI Residential I Ky, a residential property developer, and Evli Healthcare I Ky, which invests in care properties. A portfolio management team of seven manages the invested equity of approximately EUR 400 million in the real estate funds.
Real estate funds are part of Evli Fund Management Company Ltd’s alternative fund business. In addition to real estate funds, Evli has three private equity funds, which are managed by an eight-member team investing in unlisted companies both directly and through funds. The total investment assets under management in alternative funds is EUR 855 million.
Source : Evli