Jersey‑based Invel Real Estate sealed its second private‑equity real‑estate vehicle with more than €400 million in commitments, PERE data shows. The oversubscribed Invel Eudora Fund 2 targets assets in Greece and Italy, markets that have drawn renewed investor interest after years of fiscal turbulence. Closing the fund marks the manager’s largest raise to date. The capital will be deployed over the next five years.

The new fund tops its €300 million target and dwarfs the debut vehicle, which raised just over €65 million, representing a more than sixfold jump in capital. Such scale gives Invel leverage to pursue larger, higher‑profile developments and to negotiate better terms with local partners. It also helps attract more institutional capital.

Investors chasing yield in a low‑interest environment see the fund as a direct play on Greece’s tourism‑driven recovery and Italy’s urban regeneration projects. The influx of €400 million will likely accelerate asset acquisitions, tightening competition among funds hunting comparable parcels. The momentum underscores the region’s shift from crisis to growth.