NRP Asset Management AS is a leading pan-Nordic core and core-plus private equity real estate fund manager with an AuM of more than NOK 9 bn. Licensed as an alternative investment fund manager (AIFM).
As one of the largest holders of Nordic logistics properties we are presented to a wide range of deals, off-market, club deals and open market deals. Our experienced team delivers transaction execution edge, reflected in a solid track record. Our funds has received favorable ratings from Preqin.
NRP is currently establishing a new fund that will be number ten in a series of real estate funds managed or advised by NRP to make real estate investments in the Nordic region. In addition, NRP has three active real estate funds under management, advises one active real estate fund and have three funds under liquidation.
Average net IRR to investors since inception across all core-plus NRP Real Estate Funds has been more than 20% (excl. recently established Fund VIII and X).
Our Real Estate Fund Strategy
The NRP Funds are based on a vintage mindset, meaning somewhat smaller funds with a limited size and a clearly defined fundraising and investment period. The funds have a core and core-plus strategy where the investment approach is to seek to build a diversified portfolio with downside protection based on long-term investments with semi-annual distributions providing attractive risk-adjusted investor returns.
The objective is to build a portfolio consisting of 8-15 real estate investments in the Nordics with the target of generating annual investor distributions of 5-8% and 10-12% annual rate of return (IRR) during the lifetime of the Fund.
The Fund strategy focuses on investments within the real estate sectors of logistics, office, warehouse, light industry and big box retail (including mixed use). Primarily investments will be sought made in properties where construction has been completed or which is under construction and where the tenant or other third party bears the main completion risks. Up-side potential in connection with low-risk extensions and development opportunities will be regarded as compelling.
The investment philosophy is mainly focused on:
- Downside protection by seeking attractive cost price relative to replacement cost, and strong tenants.
- Long-term investments with an income return mind-set, backed by visible cash flow.
- Up-side potential in connection with low-risk extensions and development opportunities, lease prolongation, etc.
- Robust investment focus, focusing on less cyclical investments.
- Targeting semi-annual dividends.
- Attractive risk adjusted returns acknowledging the importance of capital preservation.