Custor Capital is an independent advisory firm focused on Customized Real estate solutions in Real estate related investments in the Nordics.
Custor Capital is an independent advisory firm focused on Customized Real estate solutions in Real estate related investments in the Nordics.
The firm has a solution-based business model where investment vehicles and transactions are customized to its client’s specific needs and objectives. Investment mandates and advisory services are highly collaborative and include:
• strategic advice;
• corporate finance;
• operating partnerships;
• product structuring;
• club transactions;
• capital sourcing;
• secondary transactions; and
• equity/debt recapitalizations
Clients include fund managers, institutional investors, banks, real estate consultancies, developers, asset managers and property companies.
The two founders have worked together with institutional capital since 2001 and have +50 years of investment experience including principal investing, real estate advisory and fund of funds.
Custor Capital was established in 2010. Before launching the company the founders served as global Co-heads of the Real Estate Customized Fund Investment Group at Credit Suisse.
Between 2000-2008 the Partners founded, built and managed the Multi-management business at Aberdeen Asset Management.
Investment Philosophy
Custor Capital aims at continuing to drive the development of the asset class through the innovation of new vehicles and structured solutions aimed at the institutional and retail investment community. Custor Capital understands that each client is unique and therefore customizes each investment to its client’s specific needs and objectives.
A cornerstone in Custor Capital’s business model is to create value for its clients by proactively sourcing and structuring investment opportunities through a solution-based approach in close collaboration with its clients and property owners. By combining its long experience of the indirect real estate industry with its global network of relationships with fund managers, advisors, property companies, banks and institutional investors, Custor Capital has the ability to identify investment opportunities and structure innovative and customized Real estate solutions across the Nordic markets.
Selected Assignments
| Assignment: | Role of Custor Capital: | Client: | Sector: | Total Transaction Volume: | Status: |
|---|---|---|---|---|---|
| Strategic Advisory | Strategic advice, formation of platform and capital sourcing | Residential developer | Residential | SEK 300 Million | Issue 1 Completed Dec 2011, Issue 2 Completed May 2012 |
| Private Placement | Advice and capital sourcing for co-investment in portfolio transaction | The Carlyle Group | Mixed use | €350 Million | Completed 2012 |
| Advisory | Advising on debt recapitalization of existing portfolio | The Carlyle Group | Commercial | €370 Million | Completed 2012 |
| Private Placement | Capital sourcing | NREP | Retail | €200 Million | Completed 2013 |
| Secondary Transaction | Advising on the sale of LP interest in NREP Logistics | SPP Fastigheter | Logistics | €100 Million (€400 Million portfolio) | Completed 2013 |
| Asset Sale | Advisor on the sale of nursing home to Swedish pension fund SPP | Svenska Vårdfastigheter AB | Nursing home | N/a | Completed 2013 |
| Equity Recapitalization | Advising on new structure and equity recapitalization of existing portfolios | Estea Properties | Logistics | SEK 730 Million | Completed 2013/2014 |
| Asset Sale | Advisor on the sale of nursing home to Diligentia | Svenska Vårdfastigheter AB | Nursing home | N/a | Completed 2014 |
| Strategic Partnership | Set-up of strategic partnership with Pareto | Svenska Vårdfastigheter AB | Nursing homes | N/a | Completed 2015 |
| Acquisition of 6 retail assets | Advisor on Tristan's acquistion of Project Oakland together with Elisby Fastigheter | Tristan Capital Partners | Retail | €100 Million | Completed 2016 |
| Club deal | Advisor to Trevian, AP1 and ELO in formation of Finnish retail partnership Agore | Trevian | Retail in Finland | €400 Million | Completed 2017 |
| Club deal | Established Stadsdelscentrum Group, a JV between NREP and Grandholm Gruppen | NREP and Grandholm Gruppen | Necessity centres in Stockholm | €130 Million | Completed 2019/2020 |
The Team
The Partners of Custor Capital set up the firm after having been responsible for the global Real Estate Customized Fund Investment Group at Credit Suisse until 2010.
Prior to their time at Credit Suisse the Partners built the indirect real estate business at Aberdeen Asset Management into a leading European and Asian indirect real estate manager. Having established the business at Aberdeen in the year 2000 the Partners ultimately managed more than 20 dedicated professionals consisting of 10 different nationalities located throughout Europe and Asia and built assets under management in excess of €3 billion for some of Europe’s and Asia’s largest indirect real estate investment mandates. While at Aberdeen the Partners were responsible for establishing and managing five pooled real estate fund of funds, including Europe’s first pooled pan-European real estate fund of funds, as well as six large customized segregated accounts.
Previous platforms include investment and advisory firms such as Credit Suisse, Aberdeen Asset Management, Prudential Financial, Cushman Wakefield, and Swedish pension fund Alecta.
Anders is a Partner and co-owner of Custor Capital.
Prior to establishing Custor Capital, Anders was Managing Director and global co-head of the Real Estate Customized Fund Investment Group at Credit Suisse. Based in Zurich the group was the exclusive manager of real estate fund of funds and customized accounts that invested in private funds within the Alternative Investment vertical of the bank.
Prior to joining Credit Suisse, Anders founded the indirect real estate investment management business of Aberdeen Asset Management and held the position as Managing Director. He was also a member of Aberdeen Property Investors Executive Board and Investment Committee and a board member of the management companies for Aberdeen’s real estate products.
Anders started his real estate career in 1995 when he joined the Swedish Pension Fund SPP (Alecta) as a Financial Controller and Research Analyst. He then joined Aberdeen Property Investors as Head of Portfolio Strategy and as Key Account Manager for a large direct institutional mandate. Anders has 20 years professional experience in real estate investment and management. He holds a Master’s degree in real estate from Sweden’s Royal Institute of Technology and is a Charted European Financial Analyst.
Tomas is a Partner and co-owner of Custor Capital.
Between 2015-2020 Tomas was a Senior Advisor to London-based real estate investment management boutique Tristan Capital Partners.
Prior to establishing Custor Capital, Tomas was Managing Director and global co-head of the Real Estate Customized Fund Investment Group at Credit Suisse. Based in Zurich the group was the exclusive manager of real estate fund of funds and customized accounts that invested in private funds within the Alternative Investment business of the bank.
Prior to joining Credit Suisse, Tomas was Deputy Managing Director of the indirect real estate investment management business of Aberdeen Asset Management which he co-founded together with Anders Åström. In this position, Tomas also served as Fund Manager of European Fund of Funds, as member of the investment committee, as board member of the fund’s management companies and as the key account Manager of the international investment program for two mutual pension insurance companies.
Tomas started his real estate career in 1996 when he joined the listed Swedish property developer JM. He then took on a position as an investment surveyor at Cushman & Wakefield in Stockholm with responsibility for direct investment transactions and valuations. Following this, he was the assistant fund manager of one of Prudential Financial Pan-European property funds. Tomas has 18 years professional experience in real estate. He is a graduate of Sweden’s Royal Institute of Technology and also holds a Master’s degree from Cass University Business School of London.
Contact
E-mail:
Phone:
+46 8 410 573 80
Address:
Custor Capital
Nybrogatan 3, 4th Floor
114 34 Stockholm
Sweden
Anders Åström
Direct: +46 (0)8 410 573 81
Mobile: +46 (0)70 867 75 81
anders.astrom@custorcapital.com
Tomas Otterud
Direct: +46 (0)8 410 573 82
Mobile: +46 (0)70 867 75 82
tomas.otterud@custorcapital.com