FGPO Ireland Fund II was launched in November 2017 targeting investments in the industrial, logistics and business park sector in Ireland. Fine Grain Property (“Fine Grain”) an Irish owned business park operator and investor , is the investment advisor on this second fund in Ireland, with Davy Investment Fund Services acting as AIFM.
FGPO Ireland Fund II has raised equity of €54.3 million. The fund invests in a mixture of income generating, repositioning and development projects both in Dublin and also in attractive locations outside of Dublin.
Fine Grain’s first fund raised in excess of €50 million of equity and was backed by Ireland’s sovereign development fund, the Ireland Strategic Investment Fund.
Through its team on ground, the firm is able to identify and secure suitable assets and most of the equity raised has already been deployed. The team have an active pipeline of further investments due to Ireland’s continued strong economic performance and strong interest from multi-nationals and indigenous companies choosing to locate in Ireland.
Colin MacDonald, CEO and founder of Fine Grain Property said “We’re delighted to have closed another fund for our Irish strategy. Our decision to launch a second and larger fund reflects the significant levels of interest we’re experiencing from investors in Irish commercial property and the confidence they have in the Fine Grain strategy, which offers patient investors attractive opportunities for long-term, sustainable growth.”