Round Hill Capital has closed its latest European core/core-plus multifamily real estate fund with €440m in commitments

The manager said the total capital raised for European Residential Income Fund II (ERIF II) included a €90m commitment secured last month from a French-listed fund and an Asian public pension fund. Round Hill declined a request to disclose details of the two institutions.

They join ERIF II’s nine existing institutional investors which comprise state pension funds, insurers, financial institutions and family offices.

ERIF II, which was launched in 2020, already owns 1,700 residential units across Germany, Ireland, the Netherlands and Finland. Back in January, Round Hill entered the Danish build-to-rent market with the acquisition of assets for ERIF II.

The manager said ERIF II has significant dry powder available to invest to take advantage of the current market conditions.

Michael Bickford, CEO at Round Hill Capital, said: “In addition to the over $2bn [€1.8bn] of commitments we have received across a number of separate account client strategies and funds over the past few years, the close to €440m we have raised for this latest fund, ERIF II, is a further significant endorsement of both Round Hill Capital’s continued track record of driving client returns through the cycle, as well as the continued appeal of residential asset classes.

“We established ERIF II to invest for the long term and to date we have established a high-quality portfolio of multifamily assets across Europe, which are performing ahead of benchmark despite the challenging and volatile market conditions. With more than half of the fund’s capital available to invest we are well placed in the current environment, which is creating some very interesting opportunities.”

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