Special situations investment firm RoundShield Partners has received commitments for more than €200m in a first close for its Irish residential real estate fund. Commitments were made in USD and Euros.
The fund, which had a €200m target, is Roundshield’s first pure real estate private equity fund and will be invested in purpose-built and energy-efficient properties in partnership with an established Dublin-based joint venture partner.
Gareth Fowler, partner at RoundShield, said: “RoundShield has deep experience on the ground in Ireland with strong relationships, particularly in residential real estate.
“We are excited that our first private equity fund is focused on a market we feel very established in.”
RoundShield plans to invest the fund over the next five years in residential projects across the major Irish cities.
Kristina Kuhnke Denaro, head of business development and communications at RoundShield, said: “We are thrilled to have passed our €200m target for the fund and are thankful for the support from our investors during a challenging environment for illiquid investments.”
RoundShield is an independent investment ﬁrm managing approximately $2.8 billion of capital on behalf of pension funds, endowments, foundations and other institutional investors.
The firm invests in asset-backed special opportunities across Europe and has offices in Jersey, London, Geneva, Madrid, Luxembourg and Paris.
Special situations investment is considered to be a subclass of alternative investment.