OUR FUNDS
Kinnerton Bæredygtige Boliger/Kinnerton Sustainable Housing II K/S
Fund Manager: Kinnerton Credit Management
Launch date: October 2021
Committed capital: DKK 162,5 million
The funds strategy is to invest in, own, operate, rent out and manage residential real estate assets in Denmark (i.e., equity investments in real estate). The target is DGNB Gold certified real estate assets which are affordable for the middle-income demographics in growth areas.
The fund is an article 8 fund subject to the European Union Sustainable Finance Disclosure Regulation (“SFDR”). See the article 8 pre-contractual disclosure here, the Periodic Reporting Oct 2022-Sept 2023 here, and the website disclosure here.
KID document here.
Nordics Residential Development I and II DAC
Fund Manager: Kinnerton Credit Management
Launch date: November 2020
Committed capital across both funds: €160 million
The fund will invest in newly issued credit facilities for residential real estate development in the credit constrained Danish and, potentially, Swedish markets.
The funds are as a non-AIF not subject to the European Union Sustainable Finance Disclosure Regulation (“SFDR”). However, the fund NRD I has proactively chosen to disclose in accordance with the principles as article 8 products. See the NRD I article 8 pre-contractual disclosure here , the Periodic Reporting for 2023 here, and the website disclosure here.
Kinnerton Residential Development II DAC
Fund Manager: Kinnerton Credit Management
Launch date: September 2018
Committed capital: €125 million
The successor fund to Kinnerton Opportunistic Credits C DAC, the fund will invest in newly issued credit facilities for residential real estate development in the credit constrained Danish and Swedish markets.
The current credit demand exceeds the supply and hence offers attractive opportunities for alternative credit providers.
Kinnerton Boligudlejning K/S
Fund Manager: Kinnerton Credit Management
Launch date: August 2018
Committed capital: DKK 117 million
Kinnerton’s strategy is to acquire residential real estate assets in Denmark for the rental market. Stable and predictable income stream with attractive yield gap due to low, fixed mortgage rates.
The fund is compliant with the regulations outlined in article 6 of the SFDR.
KID document here.
Kinnerton Opportunistic Credits C DAC
Fund Manager: Kinnerton Credit Management
Launch date (now closed): December 2015
Committed capital: DKK 765 million
Kinnerton’s third fund’s strategy is an extension of Sub-fund B’s strategy comprising investments in newly issued credit facilities for residential real estate development in the credit constrained Danish market.
The current credit demand exceeds the supply and hence offers attractive opportunities for alternative credit providers.
Kinnerton Mortgages Funds Plc Sub-Fund Opportunistic Credits B
Fund manager: Kinnerton Credit Management
Closed: October 2013
Committed capital: DKK 1.156 billion
Kinnerton’s second fund invests in performing and non-performing commercial and residential mortgages in Denmark, Sweden and Germany.
The fund initially acquired the mortgage portfolio of about 5,800 mortgages from the Danish bad bank, Finansiel Stabilitet. Investors committed DKK 956 million to the fund at the launch, and in December 2014 an additional DKK 200 million was committed to the fund.
The value creation is based on an opportunistic approach, which is to manage and hold the portfolio until maturity. Additionally, the strategy is to restructure non-performing mortgages and improve the credit quality of the portfolio while at the same time collecting interest and repayments from the mortgages.
Based on the cash flow from the portfolio and the additional commitment, the strategy was expanded in 2014 to cover the acquisition of newly issued credit facilities for residential development and junior commercial.
The fund will on an opportunistic basis also participate in forced sale auctions and acquire properties to defend mortgages.
The fund is compliant with the regulations outlined in article 6 of the SFDR.
Kinnerton Mortgage Funds Plc Sub-Fund Danish Mortgages A
Fund manager: Kinnerton Credit Management
Closed: 2011
Committed capital: DKK 615 million
The fund’s strategy is based on a conservative and single digit return investment strategy providing Danish households mortgage credit predominantly after 1st lien mortgage bank financing.
The life of the fund is expected to be up to 15 years from launch.
The fund is compliant with the regulations outlined in article 6 of the SFDR.
Kinnerton Residential Development III DAC
Fund manager: Kinnerton Credit Management
First close: February 2023
Committed capital: €57 million
The fund will invest in newly issued credit facilities for residential real estate development in the credit constrained Danish and Swedish markets.
The current credit demand exceeds the supply and hence offers attractive opportunities for alternative credit providers. The fund is as a non-AIF not subject to the European Union Sustainable Finance Disclosure Regulation (“SFDR”). However, the fund has proactively chosen to disclose in accordance with the principles as article 8 products. See the article 8 pre-contractual disclosure here , the Periodic Reporting for 2023 here, and the website disclosure here.
