Press release April 3 2023

DEAS Asset Management acquires ground rent funds

DEAS Asset Management acquires ground rent funds

DEAS Asset Management, a part of DEAS Group and a leading pan-Nordic fund, investment and asset manager within real estate, has announced its acquisition of Korkia’s ground rent fund business, and becoming the alternative investment fund manager of Korkia Tonttirahasto Ky and Korkia Tonttirahasto II Ky (master funds) and Korkia Tontti Holding Ky, Korkia Tontti Holding II Ky, and Korkia Tontti Holding II PB Ky (feeder funds). In connection with closing, the Funds will be renamed to DEAS Tonttirahasto Ky, DEAS Tonttirahasto II Ky etc.

Rikke Lykke, CEO of DEAS Group:

This acquisition will add value to DEAS Group’s growth, expanding our services offering and broadening our investor base. The acquisition is also part of developing our Nordic strategy and position going forward. Fund Management is one of our strategic focuses in the Nordics and with new funds under management, we will broaden this area further.

Sanna Puhakainen, Head of DEAS Asset Management Finland, adds,

We see great potential in the acquisition as we will increase our fund management business and improve our market coverage. We are a long-term partner for our investors, and we will strengthen our service offering with our new setup. The new funds fit very well together with our existing open-ended fund Deas Property Fund Finland I Ky, that has a long history since 2005.

With the acquisition, Fund Manager Markus Liimatainen, M.Sc. (Econ.), will join DEAS Asset Management's team. This will also secure immediate continuity in the management of the Funds.   

With the two new funds, we’re managing ten alternative investment funds in total in the Nordics plus a number of feeder funds. Our Nordic fund management team is highly skilled and has for a long time, and together with our asset management team, secured attractive returns for the investors investing in the funds. With the new funds, we can now offer investors an additional investment opportunity to diversify their investments in the Nordics,

says Mette Seifert, CIO of DEAS Group.

The ground rent funds have, whilst also being a great success story themselves, enabled Korkia’s growth in renewable energy. I am pleased that we have found an excellent, knowledgeable home with DEAS for our ground rent fund customers and the funds. We will keep on focusing on renewable energy and keep moving on the same track we have been for the last few years,

says Pauli Mäenpää, CEO of Korkia Group.   

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