RoundShield closes new fund with $1bn-plus commitments

RoundShield, a private investment firm focused on European asset-backed private credit opportunities and capital solutions, has successfully closed RS Fund V with investor commitments of more than $1bn (£760m). It is the largest fund raised in RoundShield’s 11-year history and is some $150m above its fundraising target.  RoundShield said the new fund had attracted commitments from existing investors, as well as from 10 new investors, including a mix of public and private pension funds, endowments and foundations, insurance companies and large family offices globally. The fund will invest in asset-backed private credit investments with a primary focus on real asset sectors in Western Europe, 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: “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.”