Pemberton is supporting ActivumSG Fund's acquisition of CASA A/S in Denmark
Overview
Pemberton, a leading European private debt manager transforming traditional credit markets, backed by one of Europe’s largest insurers, Legal & General Group PLC, will provide facilities to a pan-European fund overseen by ActivumSG Capital Management to support its acquisition of CASA A/S, one of Denmark’s leading development and construction management platforms.
CASA was founded in 2006 and has grown to be a nationwide property developer and turnkey contractor with over 250 employees and branches in both Horsens and Copenhagen, in just a few years. Demand for rental accommodation is on the rise in Denmark, driven by increasing urbanisation and tenants wanting greater flexibility. An undersupply of residential housing stock in the region underpins rental growth prospects that have attracted strong inflows of investment in multi-family housing by international institutions.
Targeting a turnover of over DKK 3 billion in 2021 and nationwide activities within development, construction and refurbishment, CASA is now among Denmark’s leading property developers and contractors. The company is committed to sustainability and has a goal of at least 95% of its construction being certified sustainable by 2023.
It will be Pemberton’s first closed transaction in the region, as well as the first closed transaction with ActivumSG, a Jersey-based private equity investment manager which focuses on special situations in real estate markets.
The Danish real estate market shows strong underlying drivers and is expected to continue growing over the next several years. CASA is a market leading general contractor with a strong track-record of attractive development projects. We look forward to supporting the company, and we are pleased to be partnering with ActivumSG, a leading European fund manager investing in the real estate sector.
– Nils Weber, Managing Director at Pemberton
CASA is a terrific addition to our pan-European residential investment strategies. It gives our fund great exposure to the strong fundamentals of the Danish housing market and its dynamic build-to-rent sector. We want to assist CASA’s management in scaling up their existing business segments. Pemberton is fully supportive of that strategy and its financing solution will add tremendous value.
– Stefan Mohr, Head of European Corporate Transactions at ActivumSG
