DEAS Asset Management acquires ground rent funds to strengthen its Finnish position and service offering


Press release

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.

For further information or quotes, please contact:

Sanna Puhakainen
Managing Director, Deas Asset Management Finland
Tel: +358 50 5900 599

Thomas Wolff
Head of Fund Management Nordics
Tel: +47 48 267 769

About DEAS Group and Deas Asset Management

DEAS Group is a leading real estate specialist in the Nordics, managing assets on behalf of a broad range of national, Nordic and foreign investors. DEAS Group has 1,000+ real estate professionals and operates from 8 offices across the Nordics. The company is headquartered in Copenhagen.
DEAS Asset Management is part of DEAS Group. With 100+ real estate professionals DEAS Asset Management is a leading investment and asset management company in the Nordics, with more than €7.8bn assets under management (AuM) and covering 400 properties across four countries.

About Korkia

Korkia is a global investor in renewable energy. We create sustainable economic value for our key stakeholders – investors and energy developers – by investing in the development of utility-scale renewable energy. Our mission is to produce clean megawatts to the market to ensure that future generations have an economically prosperous and sustainable world to live in.