Thylander enters partnership with Vintage Strategies at Goldman Sachs Alternatives to become majority shareholder in BoStad A/S – a leading Danish regional residential platform with more than 1,450 homes
The ownership of the residential company BoStad A/S, comprising 61 residential properties across 13 regional growth cities in Denmark, will be expanded on 31 October 2025 with the entry of Thylander A/S and its flagship fund TG Partners VIII, with Vintage Strategies at Goldman Sachs Alternatives entering as an LP in the transaction. AP Ejendomme will retain a significant minority stake.
“We are proud to expand our investor base with a globally recognised group like Goldman Sachs Alternatives, marking the start of a new partnership allowing them to expand their Danish exposure through our platform. This partnership represents an important step for our business and highlights our team’s focus on delivering and executing the best opportunities for our clients. Together with AP Ejendomme, we look forward to creating value in BoStad A/S in a structure that aligns all parties’ interests and supports affordable housing in Denmark’s regional growth cities,” says Bjarke Mikkelsen, Managing Partner & CEO of Thylander.
Established in 1998, Vintage Strategies at Goldman Sachs Asset Management is one of the largest secondaries investors in the world and has invested over $70 billion of capital since inception and has been a pioneer in the industry. The business provides liquidity, capital and partnering solutions to private market investors and managers worldwide across a range of private market strategies.
‘’We are excited to participate in the recapitalization of BoStad A/S alongside Thylander who have deep knowledge of this portfolio. With this transaction, our funds will gain exposure to high quality, affordable housing assets in the Danish market”, says Igor Ostrowski, Managing Director at Goldman Sachs Alternatives.
With the expansion of the ownership base, the parties share the ambition of continuing the company’s strong operations and ensuring long-term value creation for both residents and investors.
“The BoStad portfolio is now fully let and well managed, and the time has come to welcome new partners who, like us, bring deep industry expertise, familiarity with the portfolio and strong asset management capabilities,” says Peter Olsson, CEO of AP Ejendomme, confident that together the parties can continue to strengthen the company.
Thylander will assume the asset management of BoStad A/S, focusing on further strengthening the company’s position as a leading provider of high-quality, affordable housing in regional growth cities in Denmark.
“We look forward to working closely with Goldman Sachs Alternatives and AP Ejendomme on the continued development of BoStad A/S. Through our vertically integrated platform, we will create long-term value for residents in Denmark’s growth cities as well as for the company’s investors”, says Michael Brichmann, Partner & COO of Thylander, who will be responsible for the day-to-day management of the company.
Thylander and Goldman Sachs Alternatives have been advised by Accura, Weil, Gotshal & Manges, Deloitte and COWI, while AP Ejendomme has been advised by Colliers, Poul Schmith, Deloitte and Brinch Estate. Nordea acts as the sole lender for BoStad A/S.
The parties have agreed not to disclose the transaction sum or other financial details.
Contact:
Bjarke Mikkelsen
Managing Partner & CEO, Thylander A/S
Tlf.: +45 29 13 19 03
bm@thylander.dk
Peter Olsson
Adm. direktør, AP Ejendomme
Tlf.: +45 20 98 50 18
pol@appension.dk
