Swiss Life AM: Acquisition in the Nordics

In order to strengthen its access to new investors in the Nordic countries, Swiss Life Asset Managers has acquired the real estate business of NRP Ness, Risan & Partners for an undisclosed purchase price. The acquired NRP business will operate under the Swiss Life Asset Managers brand in future. The Oslo location will remain, and all 39 employees in the real estate business will be taken on, Swiss Life AM announced. The head of Swiss Life Asset Managers in the Nordics will be Christian Ness, founder and managing partner of NRP.

NRP reportedly manages a diverse portfolio of office, retail and industrial properties across the region, with a focus on logistics properties; it is characterised by attractive properties in strategic locations and long-term leases. At the end of 2020, NRP managed and administered assets worth NOK 11.4 billion (approximately CHF 1.2 billion). Founded in 2000, the company is based in Oslo, Norway, and employs a total of 110 people in real estate, shipping and offshore. NRP's clients include family offices, private investors, investment companies, foundations, trusts and institutional investors.

"With one of the leading providers of logistics real estate in the Nordic countries, we can strengthen our geographical presence in line with our strategy," says Stefan Mächler, CIO of the Swiss Life Group. "With this step, we expand our customer base and provide our clients with direct and profound market access for Nordic real estate."

Swiss Life Asset Managers is a "perfect partner for NRP" and has a strategic approach, financial strength, expertise and network that makes this relationship more valuable than the sum of its parts, says Christian Ness. "It will be business as usual for our real estate team, but there will be new opportunities to significantly expand our direct investments at the highest level of European real estate." (bw)