Investment firm Landfair Capital intends to invest over €400m, on behalf of its recently closed inaugural fund, into distressed, credit opportunities and special situations real estate in Europe.

Landfair, which specilises in providing liquidity solutions in European real estate markets that are underserved by traditional sources of capital, said it has closed Landfair EDO, without disclosing the amount of capital raised for the fund.

The manager said Landfair EDO, which is focused on Germany, Ireland, the UK, and Spain, has deployed around half of its total commitments since its initial close.

Jonathan Fragodt, co-founder, and partner at Landfair, said: “The close of Landfair EDO allows us to focus on the new and developing opportunity set in European real estate-backed credit markets. As a new manager, Landfair is free to focus on the new distressed opportunity set without the burden of having to manage a legacy portfolio that has been adversely impacted by the recent economic downturn.

“We want to thank our limited partners for their support. We are proud to have their trust and their long-term commitment. We are optimistic about the future and very excited for the next chapter.”

Stefan Jaeger, co-founder, and partner, Landfair, said: “Our investment strategy has been tested through multiple market cycles throughout our careers, and we expect significant opportunities to deliver strong performance in the current and future market environment.

“Our extensive sourcing network enables Landfair to be very disciplined in our selection criteria, and we apply a consistent investment approach to extract value through active management, restructuring, and the repositioning of assets.”

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