In the summer of 2024, Swedish asset manager Coeli partnered with real estate specialist Peter Norhammar and NRP Anaxo Management to launch a concentrated real estate equity strategy, initially described as long/short and offered exclusively to Coeli clients. As of mid-October, Coeli Norhammar Property L/S – now renamed Coeli Listed Real Estate – has been converted into a UCITS structure, broadening access to a wider investor base. While the UCITS version will not employ short-selling, Norhammar continues to manage the strategy with a focused, high-conviction approach to listed real estate companies across Sweden and the Nordic region.
“The launch of Coeli Listed Real Estate in October this year marks the next step in Coeli’s focus on active and niche management within listed real estate,” announces the team at Coeli. The restructuring of Coeli Norhammar Property L/S into a UCITS fund extends the strategy’s reach beyond Coeli’s private client base, enabling distribution across a wider range of markets and investor groups. This transition allows a broader group of investors to access the same concentrated and actively managed approach to listed property investing that was previously available only to Coeli Wealth Management clients.
“With the restructuring, we are now making a proven and successful model available to more people, while strengthening our Nordic offering through the partnership with NRP.”
Erik Lundkvist, CIO and Head of Public Market Investments at Coeli.
“Peter is one of Sweden’s absolute leading property managers, with a well-documented ability to create returns in both ups and downs. For us at Coeli, the collaboration with him has been an important part of our focus on active, concentrated strategies,” says Erik Lundkvist, CIO and Head of Public Market Investments at Coeli. “With the restructuring, we are now making a proven and successful model available to more people, while strengthening our Nordic offering through the partnership with NRP.”
Peter Norhammar ranks among Sweden’s most experienced and well-known real estate managers. Before joining NRP Anaxo Management in 2020, he managed Länsförsäkringar Fastighetsfond from 2015 to 2020, following nearly three years at Alfred Berg Kapitalförvaltning as Head of Swedish Equities and Portfolio Manager. Earlier in his career, he spent more than 14 years at SEB Investment Management in various senior roles, including Chief Investment Officer of Swedish Equities. Known for his long-term, analytical, and concentrated investment style, Norhammar now applies the same approach in Coeli Listed Real Estate, which invests in a focused selection of listed Nordic property companies with strong cash flows, solid balance sheets, and clear value-creation potential.
“We are in a period when real estate stocks are once again showing attractive valuations and strong cash flows.”
Peter Norhammar, manager of Coeli Listed Real Estate.
“We are in a period when real estate stocks are once again showing attractive valuations and strong cash flows,” says Peter Norhammar, manager of Coeli Listed Real Estate. “This makes it extra exciting to be able to offer this strategy to a wider audience together with Coeli and NRP.”
