Round Hill Capital closes €440m multifamily fund

Round Hill Capital closes European Residential Income Fund II (ERIF II) with c. €440m in commitments to invest in multifamily.

Round Hill Capital closes €440m multifamily fund, with the recent acquisition of a Build to Rent scheme in Denmark | BTR News
Round Hill Capital closes €440m multifamily fund, with the recent acquisition of a Build to Rent scheme in Denmark.

Global specialist real estate investor, developer and manager – Round Hill Capital – has closed its European Residential Income Fund II (ERIF II) with c. €440m of equity commitments, with significant capital left to deploy in selected markets. The Fund will target Core/Core Plus returns by investing in multifamily opportunities in locations that have strong transport links, positive demographic trends, and persisting supply/demand imbalances.

The closing follows a final tranche of €90m raised from a French listed fund and an Asian public pension fund. Both join nine existing institutional investors in the Fund – comprising a range of state pension funds, insurance companies, financial institutions and family offices. 

Through the company’s European network of offices, Round Hill Capital has already built a portfolio for ERIF II. The fund has 2,050 units under management and has significant dry powder available to invest.

The closing of the Fund follows the recent acquisition of a 324-unit Build to Rent scheme in Aarhus, Denmark in February 2023. In total, the Fund’s assets span five countries – Germany, Ireland, the Netherlands, Denmark and Finland.

“To have raised close to €440m for ERIF II is a 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.”

Michael Bickford, CEO, Round Hill Capital

To date, Round Hill Capital has raised over $7bn of equity from over 40 global institutional investors in its multiple strategies, with over 140,000 residential units owned or managed across Europe.