Sirius is the investment advisor to the real estate fund Sirius Fund IV that invests in build-to-rent residential assets in Finland, predominantly in the Helsinki region.
The investors in the Fund are all international institutional investors, such as multi-managers, pension companies and family offices, with more than three quarters of the capital coming from the US and the rest from Europe.
The fund is closed-ended with a vintage of 2021 and equity commitments of € 200 million. The fund is fully invested.
Sirius is the investment advisor to the real estate fund Sirius Fund III that focuses on office properties in Helsinki. The fund has acquired four assets with prime micro-locations and a total lettable area of some 17,000 sqm. Two of the assets located in Keilaniemi were exited in 2019. The two Helsinki CBD assets underwent a complete development and welcomed EY in their new headquarters in 2023.
The fund is closed-ended with a vintage of 2018 and equity commitments of € 35 million. The strategy of the fund is to tap into the rent reversion created by growing rental levels in key office areas in Helsinki through active asset management.
Sirius created the company Cibus Nordic Real Estate that focuses on daily-goods properties in the Nordics. The company is listed on Nasdaq main list in Stockholm. For the IPO, Sirius raised more than € 180 million of new equity. After the IPO, Sirius Fund I Grocery and Sirius Fund II were the largest owners of the company and Sirius was responsible for the day-to-day management of the company. Sirius created an independent management and organisation for Cibus, following which, the two Sirius funds exited their holdings and Sirius’ management agreement with the company ended. The total return during Sirius’s management was 86%. Today, Cibus is fully independent from Sirius.
Cibus provides its investors with a high and predictable monthly dividend. To follow its share price development please click here.
Sirius was the investment advisor to the real estate fund Sirius Fund II that focused on daily-goods properties in Finland. The fund had through 11 acquisitions assembled a portfolio of 61 daily-goods stores with a total lettable area of some 270,000 sqm. The portfolio included stores operated by all main daily-goods retailers Kesko, S-Group and Tokmanni. The fund was closed-ended with a vintage of 2016 and equity commitments of € 135 million.
The fund was exited in 2018 through the IPO of Cibus and fully realised in 2020 through the sale of the remaining shares in Cibus. The fund made a net IRR of 33.5% and a net multiple of 1.8 according to Preqin, making it a top quartile performer.
Sirius was the investment advisor to the real estate fund Sirius Fund I Grocery that focused on daily-goods properties in Finland. The fund had through 15 acquisitions assembled a portfolio of 64 grocery stores with a total lettable area of some 170,000 sqm. The portfolio included stores operated by all main grocery retailers Kesko, S-Group and Lidl. The fund was closed-ended with a vintage of 2015 and equity commitments of € 100 million.
The fund was exited in 2018 through the IPO of Cibus and fully realised in 2020 through the sale of the remaining shares in Cibus. The fund made a net IRR of 30.4% and a net multiple of 2.1 according to Preqin, making it a top quartile performer.
