This post first apppeared at AltAssetsNetwork.

Special situations investor RoundShield Partners has picked up more than €200m to close its first pure real estate private equity fund.

RoundShield beat its €200m goal for the Ireland-focused fundraise, which will be invested in purpose-built and energy-efficient properties in partnership with an established Dublin-based joint venture partner.

Firm partner Gareth Fowler 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 said it plans to invest the fund over the next five years in residential projects across the major Irish cities.

The firm currently manages about $2.8bn of capital on behalf of pension funds, endowments, foundations and other institutional investors.

It targets asset-backed special opportunities across Europe from its offices in Jersey, London, Geneva, Madrid, Luxembourg and Paris.