Stockholm (HedgeNordic) – A Swedish property development company is forging a partnership with fintech firm Nowonomics and its wholly-owned asset management arm, QQM Fund Management, to launch real estate funds.
Quartiers Properties has signed a letter of intent with Nowo and QQM, marking a step towards developing joint real estate funds that will enable the property development company to finance new projects without the necessity of raising capital from its shareholders. For Nowo, this letter of intent opens up the possibility of offering Nowo’s savers investment options in the real estate market.
“The letter of intent with Nowo and QQM is an important milestone for Quartiers. We believe that this collaboration will create significant synergies by integrating our real estate knowledge and experience with their fund management expertise,” comments Marcus Johansson Prakt, CEO of Quartiers. Quartiers Properties is a Swedish real estate company with a strong focus on the Spanish market, primarily active in the Spanish Costa del Sol. The firm specializes in developing, selling, and renting out properties.
“We believe that this collaboration will create significant synergies by integrating our real estate knowledge and experience with their fund management expertise.”
According to the team at Quartiers, the current situation in the Swedish market mirrors that of Spain when Quartiers initially started investing in the Spanish Costa del Sol. The fund structures will also enable Quartiers to reallocate some of its capital from a strong Spanish market to the currently weaker Swedish market with promising opportunities. “We see a bright future where together we can navigate and exploit the many opportunities that both the Spanish and Nordic property markets offer,” says Prakt.
“The letter of intent is an important step on the way to being able to offer diversified and high-quality investment opportunities to Nowo’s members,” says Amelie Söderberg, Group CEO at Nowonomics. “Together with Quartiers Properties, we look forward to creating products that mean good solutions for our members but also great value for our shareholders.”
In 2021, Nowonomics acquired a majority stake in boutique asset manager QQM Fund Management, which manages systematic market-neutral fund QQM Equity Hedge, to expand the product offering on its money savings platform NOWO. The publicly-listed fintech company behind savings platform Nowo now owns 100 percent of QQM, which oversees the management of long-only equity fund Nowo Global Fund and QQM Equity Hedge. The letter of intent between Quartiers, Nowo, and QQM represents a shared vision to create real estate funds that would further expand Nowo’s product range for its pension savers.
