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RBS International Luxembourg supports NREP

RBS International Luxembourg has signed a new subscription line with a maximum facility size of €300m with NREP Income+ Fund.

NREP is the largest real estate investment manager in the Nordics and ranked as one of the most consistently performing real estate private equity managers globally by Preqin.

NREP Income+ Fund is an evergreen fund that launched in September 2020 and is expected to reach €1bn of commitments during Q1 2021. It is an open-ended, core-plus, Nordic real estate investment strategy, focussed on modern living, logistics and care homes. The facility is designed to provide operational flexibility to the fund and works seamlessly with the full suite of RBS International services, including banking, depositary and FX.

Nathan Mistry, RBS International Luxembourg commented “This has been a particularly interesting transaction as subscription facilities are still relatively uncommon for open-ended vehicles. By working closely with the NREP team, we managed to structure a bespoke facility that is fit for purpose for the fund. NREP has an excellent track record and their commitment to sustainability and their ‘modern’ investment strategy perfectly aligns to our purpose of helping people, families and businesses to thrive. I’m delighted to support NREP and extremely happy they have selected RBS International as their main banking and depositary partner for this fund.”

 “We are very pleased to be supported by RBSI on both our depositary set up and the fund financing for our first evergreen fund structure. The NREP Income+ fund marks another milestone for NREP as it enables us to take an even longer-term investment view for our core strategies,” Jani Nokkanen, CIO of NREP commented.

RBSI Luxembourg was advised by Travers Smith as lead counsel and Wildgen as Lux law counsel for this transaction. NREP was advised by Reed Smith as lead counsel and Elvinger Hoss Prussen as Lux law counsel.

For more information contact

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Nathan Mistry

Associate Director, Institutional Banking

About RBS International Institutional Banking

We specialise in helping institutional clients look after their money and manage risk. This includes transactional banking, fund financing, depositary services, and liquidity and risk management. We’re based in Jersey, Guernsey, London, Luxembourg, Gibraltar and the Isle of Man so our clients get personal, tailored support from a local expert. And our multi-currency online banking platform, eQ, lets them move and manage money the same way they do their personal banking.

Our clients include alternative investment fund managers, asset managers, fund administrators and corporate service providers. With our culture of restless innovation, we work to make banking easy. We’re focused on delivering all the services our clients need, where and when they need them.

About

NREP

NREP is a real estate investor that develops, operates, and innovates to improve the built environment, for the benefit of all stakeholders. NREP takes a long-term approach to value-creation across its main segments: Living, Logistics, Care and Offices. The company has 330 employees and manages 2.5 million square meters of real estate, worth €7.1bn (AuM), across Denmark, Finland, Sweden, and Norway. NREP averages more than one investment per week and is a recognized as a pioneer within sustainability, customer centricity and use of technology. Read more about NREP (links to new page) 

About

RBS International Depositary Services

RBS International Depositary Services provides independent trustee and depositary services for clients in the UK and Luxemburg, under both the UCITS and AIFMD regimes. Established over 80 years ago, with £360billion in Assets under trusteeship and working with more management companies and schemes than any other UK trustee, the business has unparalleled experience of all aspects of trusteeship.