Invel investment fund closes €400m fundraising, exceeding target by nearly a third

The investment fund Invel has closed fundraising at €400 million—nearly a third above its original target. Including leverage, the fund's total firepower will exceed €1 billion.

The focus is on Italy and Greece. Invel views these markets as fragmented but with substantial consolidation potential. The fund is betting primarily on residential and hospitality segments, where supply constraints are tight and demand remains stable.

Notably, 60 per cent of the capital raised has already been deployed across 10 projects. These include the conversion of the iconic Roman hotel Majestic into a Baccarat Hotel (€111 million in financing), the creation of Greece's first flexible housing platform with 2,000 apartments, and a partnership with YellowSquare to develop 5,000 hotel-residential units across the Mediterranean.

Investors hail from Europe, the Middle East and North America. The fund's portfolio encompasses not only real estate but also structured financing. The fund has obtained Article 8 status under EU ESG regulation.