Real estate investor and manager, Cromwell Property Group (Cromwell) has appointed Eeva Saravuo as fund manager of a pan-European wooden building property fund being established in partnership with Finland-based sustainable real asset manager, Dasos Capital (Dasos).
Bringing more than 20 years’ experience from various roles at Aberdeen Standard Investments, latterly as fund manager for Aberdeen’s Finnish and Nordic funds, as well as deputy fund manager for an open-ended real estate fund investing in continental Europe, Eeva will manage the new European wooden building property fund on behalf of Dasos and Cromwell.
The open-ended fund will target an initial first close of €100 million committed equity by the end of calendar year 2021, with a target portfolio value exceeding €1 billion over the longer term.
Cromwell and Dasos will develop and acquire sustainable wooden buildings across real estate sectors and geographies, providing investors with opportunities that meet responsible investment ESG criteria and align with the European Sustainable Finance Disclosure Regulation (SFDR).
Commenting on the appointment, Robert Cotterell, Head of Investment, Europe at Cromwell Property Group, said: “We believe this fund provides a unique and compelling investment opportunity and Eeva’s experience and background will be fundamental to its success. We look forward to working with Eeva to launch the first pan-European wooden building property fund.”
Eeva Saravuo, Fund Manager of Cromwell and Dasos’ European Wooden Building Property Fund, said: “This is a fantastic opportunity to shape the future of sustainable real estate investment.”
“The technology and expertise to develop wooden buildings in all sectors has evolved to a point where it is now a scalable and attractive investment asset class suitable for both large institutional, as well as other smaller, investors.”
“The proposed fund will be one of the few opportunities available to help them meet their own increasingly demanding sustainability objectives,” Ms Saravuo concluded.
Eeva holds a MSc in Real Estate Economics and Valuation from the Helsinki University of Technology as is a certified financial analyst.