RoundShield secures €920m with Fund V close

This marks the largest fund in the firm's 11-year history, achieved despite a challenging fundraising environment.

The fund focuses on European asset-backed private credit opportunities and capital solutions.

Fund V garnered strong support from both existing and new investors. Over 80% of commitments came from previous RoundShield investors, but the fund also attracted ten new investors, including a diverse group of leading global institutions. These institutions represent various sectors, including public and private pension funds, endowments and foundations, insurance companies, and large family offices.

RoundShield is deploying Fund V capital into asset-backed private credit investments, primarily targeting real asset sectors within Western Europe. The firm focuses on key areas such as hospitality, student housing, residential, social infrastructure, renewable energy, and other operating-related real estate.

Driss Benkirane, founder and managing partner of RoundShield said: ‘This fundraising milestone underscores our investors’ confidence in our experience and in our ability to deliver attractive risk-adjusted returns through economic cycles. 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.’

RoundShield’s Fund V is classified as Article 8 under the EU's Sustainable Finance Disclosures Regulation, signifying that the fund promotes environmental and social characteristics and integrates sustainability risks into its investment strategy.

Fund V surpasses its predecessor, Fund IV, which had secured $880 mln (€794 mln) in client commitments.