FINLAND - Aberdeen Property Investors has announced the investment of US$75m from the Finnish Local Government Pensions Institution (LGPI).
Arto Tuunanen, portfolio manager for real estate at LGPI, commented: "Asia is expected to remain an important driver of global economic growth in the future with projected growth rates exceeding those predicted for North America and Europe. As a result, the real estate market in Asia will benefit from this scenario and we feel that Asia should be part of any long-term investment strategy. We are confident that Aberdeen's strong commitment to the region will yield good returns."
Bo Ljunglöf, fund manager at AIPP Asia Select, commented: "AIPP Asia Select aims to meet the continued strong demand from institutional investors for exposure to Asian property and we are very pleased to count LGPI among our investors. The fund leverages both on our team's proven track record of indirect investment in Europe and in Asia, as well as Aberdeen's large Asian platform and our property expertise in the area. We believe AIPP Asia Select will continue to deliver strong returns from the Asian property market."
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