Sirius Fund I Grocery SCSp (the “Fund”) has been launched with a final closing reaching the hard cap of €100 million in equity. The Fund was oversubscribed. The Fund targets grocery store real estate investments in Finland and has to date already carried out 12 acquisitions, committing >80% of its capital. The deals are going to be announced separately following their closings at the end of August and September.
The investors in the Fund are all international institutional investors, such as multi-managers and pension companies, with more than three quarters of the capital coming from the US and the rest from Europe.
The Fund is managed by Luxembourg Investment Solutions S.A., while Sirius Capital Partners acts as the investment advisor in Finland. Accord Capital Partners LLC acted as the placement agent and strategic advisor.
“Finnish grocery stores is a segment where we have an unrivalled track-record. Therefore, the interest among investors for this fund was very high on both sides of the Atlantic, enabling us to have a final closing already after only a year since the launch of the firm” says Patrick Gylling, CEO of Sirius Capital Partners. He continues: “We do see a lot of interesting investment opportunities in other real estate segments in Finland as well and we will start looking into ways of exploring them soon”.