Responsible real estate investments in Nordic healthcare and social infrastructure
Independent asset management since 2001
Northern Horizon is a Nordic-based real estate investment manager. We invest institutional capital in new, modern, and sustainable aged care homes and other social infrastructure assets in the Nordic region, operated by well-established operators on long-term agreements. We have been pioneers in the segment for 20 years.
Our investor base includes European and global institutional investors - through direct investments or via multi-managers.
We work closely with developers, municipalities and the most established care operators in the region.
We add new supply and provide modern, sustainable care and living environments to communities with a sustained shortage of care beds.
The Nordic population is ageing rapidly, and more elderly citizens will need specialized housing and care. The need for new care homes requires significant investments. Helping society care for its elders and contributing to alleviate the growing structural undersupply of modern, sustainable care beds in the Nordics are key drivers for our strategy.
Today, Sweden, Denmark, Norway, and Finland have a combined population of 28 million. By 2050, the region is expected to have 1.9 million more seniors aged 75+. To meet the growing need for care beds, over 185,000 net new care beds will be needed over the next 25 years. This corresponds to over EUR 3 billion in annual investment.
This critical societal challenge can only be met through a combination of public and private capital, and through public and private cooperation.
For institutional investors, the asset class represents an investment case where social impact and long-term investment performance go hand in hand.
2026 special report from SHHA, focusing on the senior housing and healthcare real estate market across Europe.
Northern Horizon, the leading specialized social infrastructure investment manager in the Nordics, has completed an additional capital raise of EUR 140 million for its flagship ACSIF fund. With the new equity from MN, on behalf of PMT, and from UBS Asset Management, ACSIF surpasses EUR 1 billion in assets under management. The new equity will be used to finance a large portfolio acquisition in Sweden and to support the execution of an exceptionally robust pipeline in all its core markets.
Northern Horizon today announced a change in its ownership structure, introducing a partnership model.
Northern Horizon, the leading specialized social infrastructure asset manager in the Nordics, continues to deploy capital to help meet the growing demand for modern care facilities in the region. Over the past month, three new acquisitions for its latest healthcare fund have been completed in Finland, comprising 132 modern, purpose-built care beds in total. Northern Horizon’s Investment Director in Finland expects a high deal volume in 2026.
In this keynote interview conducted by PERE, Northern Horizon’s Christoffer Abramson and Andrew Smith discuss the evolving social infrastructure real estate landscape in the Nordics. In the interview, they delve into various aspects of the investment case: the rapidly growing elderly population, the strong government support for aged care, and the development and realization of new, modern aged-care facilities in the Nordics, which is typically a complex process involving close collaboration between the municipality, the developer, the operator, and the facility provider.
Located in the southern part of Jutland, Kolding Municipality is one of many municipalities in Denmark facing a growing elderly population and an urgent need for new aged care beds. The municipality decided a few years ago to establish an additional 170 care beds over a period of 4–5 years, as a combination of municipal and private care facilities. This paved the way for the design and construction of a new asset in Kolding, that today houses Mariehjemmene Kolding, the first private care home in the municipality, and KLAX kindergarten.<br />
Northern Horizon Capital AS, the management company of Baltic Horizon Fund, hereby notifies that on 30 October 2025, the previous sole shareholder Northern Horizon A/S (registered in Denmark under register number 27599397) transferred the ownership of this Estonian licensed fund management company to Antanas Anskaitis, Antanas Danys and Tomas Milašauskas.
Global Real Estate Sustainability Benchmark is internationally recognized as the standard for measuring sustainability performance. Northern Horizon has participated in GRESB’s annual sustainability assessments since 2018, and this year we are happy to share significant progress for both our healthcare funds.
Northern Horizon, the leading specialized social infrastructure asset manager in the Nordics, today announced new equity commitments of EUR 220 million for its latest fund, Aged Care Social Infrastructure Fund (“ACSIF”) and includes new investments from KZVK Dortmund and Helaba. The new capital takes the Fund’s equity above EUR 600 million, with AUM of approx. EUR 900 million. The new capital coincides with several attractive acquisitions of care homes and development projects in all the Fund’s core markets, adding up to EUR 120 million, demonstrating the team’s ability to deploy capital swiftly.
Northern Horizon, specialized social Infrastructure asset manager in the Nordics, continues to build the portfolio of its fifth healthcare fund, Aged Care and Social Infrastructure Fund, and acquires an aged care home under development in Falun, Sweden. The care home has been developed by and is acquired from Skanska for circa SEK 330 million.
We invest in real estate on behalf of our investors. We take this responsibility very seriously, also when it comes to sustainability. We prioritize assets that are ESG-efficient, future-proof, and modern, designed for long-term value creation for both investors and society.
Both of our funds are classified as SFDR Article 8 funds, and we apply strict sustainability criteria to all investment decisions and continue to invest in energy efficiency and emissions reduction to ensure a resilient, low-carbon portfolio.
