Oslo and London-based ÆRA launches alternative real estate lending platform with €50 million backing for Nordic investment

ÆRA launches alternative real estate lending platform with EUR 50 million backing for Nordic investment

Oslo, 10 March 2025. ÆRA Capital AS (“ÆRA”), an independent and founder-led real estate investment firm based in Oslo and London, is proud to announce the launch of its alternative real estate lending platform. Backed by €50 million in initial funding from a consortium of global investors, ÆRA has an ambitious long-term vision to transform the Nordic real estate lending market.

Empowering the Nordics
ÆRA combines deep local market knowledge with access to global capital to provide bespoke financing solutions for borrowers across Sweden, Norway, Denmark, and Finland. With presence in Oslo and London, the firm is well-positioned to navigate an increasingly complex and evolving real estate financing landscape.

The founding team comprises experienced real estate finance professionals with a broad range of experiences and backgrounds:

• Fabio Barbaro. Experienced real estate investor across the capital structure. Lead the build-out of real estate platform at special situations firm Zetland Capital Partners and before that spent time in the real estate teams at Sculptor, Carlyle, and Deutsche Bank in London.

• Terje A. Pettersen. Senior investment banker and real estate credit specialist. Established the debt advisory business at Pangea/Colliers with John Stene. Before that spent more than two decades as head of loan origination and debt capital markets teams at SEB, ABG Sundal Collier, and DNB in Norway.

• John Stene. Experienced investment banker specialised in real estate and high yield debt capital markets. Diverse experience originating, advising on, and structuring transactions at Pangea/Colliers, and before that, spent over a decade at First Securities and Swedbank in Norway and Sweden.

• Faisel Butt. Dedicated capital raising and business development professional. Experience running institutional sales teams at large asset managers including Nordea, Raymond James Asset Management and Oddo BHF in the UK and Denmark.

Terje A. Pettersen, Founding Partner & Co-CEO at ÆRA, stated:
“We are excited to launch ÆRA’s Nordic real estate debt platform to meet the increasing demand for bespoke and flexible financing in the region. With an initial €50 million ready to deploy and the support of world-class investors, we are ready to act swiftly and deliver impactful, client-focused solutions.”

Committed to growth with backing from world-class investors
ÆRA’s strategic plan is to continue to forge meaningful partnerships with institutional investors, family offices, and high-net-worth individuals. The firm’s vision is to deploy over €2 billion in capital over the next five years, establishing itself as a leading alternative debt manager in the Nordics.

The firm is backed by a global consortium of investors led by Spire Ventures, an investment firm that backs innovative real estate businesses, with the investor base comprised of several well renowned investors based in the United States and the Middle East. This backing reinforces ÆRA’s strength and ambition to transform the Nordic real estate financing market.

Fabio Barbaro, Founding Partner & Co-CEO at ÆRA, stated:
“Our partnership with Spire Ventures and the wider global investor consortium marks the first step in putting ÆRA’s vision into action by bringing global investors to the Nordics. We look forward to continue forging partnerships with investors and to act as a bridge to the Nordic real estate credit market in the years to come.”

Veer Mehta, Investment Manager at Spire Ventures stated:
“Our partnership with the ÆRA team aligns with our strategy of investing in best-in-class management teams within key real estate growth sectors. ÆRA’s innovative approach and deep local expertise aligns perfectly with our investment philosophy. We are confident ÆRA will create substantial value for investors and the broader market. This investment marks the first in a series of new ventures we are launching this year.”

2025: A year of strategic deployment
As ÆRA looks ahead to a dynamic 2025, the firm invites borrowers, investors, and partners to join its mission of transforming the Nordic real estate finance market. With a robust pipeline of opportunities and a clear vision for growth, ÆRA is well-positioned to make a lasting impact in 2025 and beyond.

For more information, visit www.aeracap.com or contact us at IR@aeracap.com.

About ÆRA
ÆRA is a newly launched alternative lending firm focused on real estate financing opportunities across the Nordics with presence in Oslo and London. By combining deep local expertise and access to global capital markets, ÆRA is well-positioned to deliver tailored financing solutions for borrowers across the Nordics.

About Spire Ventures
Spire Ventures is a London-based private equity firm specialising in backing entrepreneurs building the next generation of real estate businesses. Spire has invested in several successful ventures, including 90 North, POD Management and Beaumont Bailey.