Suomi Group, one of the largest insurance and pensions providers in Finland, has appointed Aberdeen Property Investors to invest part of its €550m ($663.5m) property portfolio internationally for the first time.

Aberdeen will invest €150m in European unlisted property funds and is working on the investment strategy with Suomi for the portfolio. Suomi has total assets of €5.5bn with 10% expected to be allocated to property. Suomi has invested in alternative investments for some time and appointed unnamed hedge fund and private equity managers last year.