Northern Horizon, the leading specialized social infrastructure investment manager in the Nordics, closed the first quarter of 2026 with another funding round of approx. EUR 100 million for its flagship evergreen platform, Aged Care Social Infrastructure Fund (ACSIF). The new equity is raised from MN on behalf of PME, a large Dutch pension manager. This combined with the commitment from MN’s other client PMT of EUR 100 million meant that Northern Horizon closed out EUR 200 million of new equity for ACSIF in the first quarter of 2026 from MN. Further top ups were made also from existing clients.
Christoffer Abramson, Group CEO and Partner, Northern Horizon, said: “We are incredibly proud to be the only manager with 20 years of experience of investing in Nordic social infrastructure assets. The firm has maintained its leading position in the Nordic market with an experienced, small and highly specialized team focused on healthcare assets. We launched ACSIF in 2024 with around EUR 400 million in committed capital. To announce this second fundraise in Q1 2026, with total commitments of over EUR 250 million in the same quarter, reflects Northern Horizon’s ability to attract institutional capital by consistently delivering strong returns over time.
Paul van Kempen, Portfolio Manager Real Estate, MN, said: “The commitments to the ACSIF fund on behalf of PMT and PME fit our clients’ long-term investment approach. The strategy provides exposure to a sector supported by structural demographic trends and growing demand, through a manager with a focused Nordic platform and strong local market expertise.”
Andrew Smith, Partner and Head of Capital Raising at Northern Horizon, commented: “MN have been monitoring Northern Horizon for several years. When they decided last year to look into an investment in Europe in Europe in the Aged Care Real Estate sector, they ran an overview of the European market and shortlisted Northern Horizon as a potential target with our flagship “ACSIF” Open Ended Core Fund. We are thrilled that MN chose Northern Horizon on behalf of their clients (PME and PMT) and we appreciate their two investments of EUR 100 million each in Q1, 2026.”
The evergreen fund now has over EUR 1 billion of assets under management, and these additional equity commitments will support further strategic growth of the Fund’s portfolio. The asset portfolio currently comprises 83 aged care properties and other social infrastructure assets across Finland, Sweden, and Denmark.
