€290m Irish PRS fund launched

Avestus Capital Partners has launched an Irish PRS fund with €160m (£141m) of committed equity and a total investment capacity of €290m.

The fund is backed by a consortium of Nordic and German institutional investors and a sovereign wealth management institution based in Ireland.

It will look to buy new income-producing assets in the private rented sector and forward purchase newly developed rental properties.

Avestus has €1bn in assets under management across Ireland and Europe. The assets are spread across 40 residential, office, retail and hospitality assets and as part of this it has built up