RoundShield closes largest PC fund to date
RoundShield has closed its largest private credit fund to date, with more than $1bn (£0.76bn) in commitments.
This makes Fund V the largest fund in RoundShield’s 11-year history. By contrast, its predecessor Fund IV closed with client commitments of $880m.
A number of existing investors contributed to the fund, as well as 10 new investors, including a diversified mix of leading public and private pension funds, endowments and foundations, insurance companies and family offices.
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Fund V will focus on investing in real asset sectors in Western Europe, such as hospitality, student housing, residential, social infrastructure, renewable energy and other operating related real estate.
“We are delighted to announce the close of Fund V,” said Driss Benkirane, founder and managing partner of RoundShield.
“This fundraising milestone underscores our investors’ confidence in our experience and in our ability to deliver attractive risk-adjusted returns through economic cycles.
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“We believe that European real assets private credit is a very attractive sub-category of private credit, especially within the highly fragmented mid sized deal universe where we invest.
“Today’s opportunity set is particularly attractive due to the lack of liquidity in the European mid-market, real estate valuations that continue to adjust to the higher interest rate environment and shifts in real estate usage post-pandemic.
“We are exceptionally proud of the strong support received from both existing and new investors and would like to thank them all for their continued support.”
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