These 7 Funds With More Than €3B Combined To Spend All Have Ireland On Their Radar

Seven funds that have recently raised or are in the process of raising capital have a mandate to invest in Ireland, according to data from private funds analysis experts Preqin.

The funds have raised more than €3B of capital combined, and span the risk spectrum, looking for everything from opportunistic to super-core assets.

Here are the funds with money to spend and an eye on Ireland.

BGV VII — Real I.S.

German fund manager Real I.S. has raised more than €500M of equity for the open-ended BGV VII fund, which is targeting core assets in all sectors in Western Europe, including Ireland. Purchases so far include office assets in Brussels and Amsterdam.

European Cities Fund — TH Real Estate

TH Real Estate has raised more than €1B of equity for its open-ended European Cities Fund, which has a mandate to invest in around 40 European cities it has identified as being high growth, including Dublin. It has bought big shopping centres in Madrid and Helsinki as well as a mixed-use scheme in Edinburgh and an office development in Berlin.

GLL Office III — GLL

GLL, which has just been bought by Aussie giant Macquarie, is another investor with a core, open-ended fund with a mandate to invest in Ireland. Its GLL Office III fund is sector-specific, and has thus far done deals in Madrid.

M&G European Secured Property Income Fund — M&G Real Estate

M&G has been a significant investor in Dublin in the past few years, backing developers including Pat Crean and Johnny Ronan. But it also has a mandate to make investments in standing assets through its M&G European Secured Property Income Fund, an open-ended fund looking for long-leased properties in Continental Europe that launched in 2016.

SafeGuard Global Accommodation Real Estate Fund — SafeGuard Real Estate Management

Singaporean firm SafeGuard is looking to raise €572M for a fund specifically targeting student accommodation in the U.K. and Ireland. The fact that it is targeting opportunistic returns means it will have a focus on development.

Urbeo Residential Irish PRS Fund — Urbeo Residential

Earlier this year fund manager Urbeo said it wanted to raise up to €400M to invest in the nascent Irish private rented residential sector. It has secured investment of up to €100M from the €8B Ireland Strategic Investment Fund. The fund said its pilot scheme, the 131-unit New Bancroft development in Tallaght, acquired last July for €33M and backed by the ISIF, is now fully let. It is targeting an internal rate of return of 8% to 10%.

CS (Lux) European Property II — Credit Suisse

Credit Suisse has held three closings for its European Property II fund, which has a final target of €500M of equity having launched last year. The fund has a mandate to invest in value-add assets in all sectors in cities across Western Europe.



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