IRUS Fund, success in fund management
IRUS ERPF (European Retail Property Fund), established by NEINVER in 2007, has been one of the largest pan-European private-capital funds specialised in outlet centres. Besides being the fund’s sponsor and one of its anchor investors, NEINVER has overseen its management, the purchase and sale of assets, financing and investor relations, as well as developed 85% of the assets in which IRUS ERPF invested.
NEINVER wound up the IRUS ERPF with a 9% return, making it one of the highest-return funds of its type. Over its active period, the fund returned all the capital with a multiple of 1.9 times the amount invested.
The founding and successful management of IRUS ERPF has further strengthened NEINVER’s positioning as a trusted investment partner and manager. Thanks to our experience and knowledge of the outlet sector, we have successfully met the fund’s initial targets, when on average, closed-ended value-add funds launched between 2006 to 2008 had negative annual returns due to the economic recession. Following a strategy based on geographic diversification, specialisation, and a focus on the shopping experience and sustainability, IRUS ERPF successfully and continually increased the value of its assets and was recognised as one of the highest-return funds of its type.
Since the end of its investment period in 2011, the assets’ gross value increased by 30%, from €1.006 billion to €1.360 billion. NEINVER also managed the outlet centres, whose indicators showed continual growth, with an average annual increase of 7% in sales and 5% in footfall over the last 5 years.
IRUS ERPF has been honoured twice at the Europe Property Investor Awards held by Property Investor Europe magazine, where it was named “Fund of the Year” (2016) and “Fund of the Year - Retail” (2017) for its return on investment, the originality of its offer, and its excellent management by NEINVER.
