Emerging Market Property has launched the Adriatic Capital Accumulation Fund LP, a fund for investing in Croatian property.

The London-based property developer offers an opportunity to invest in a fund for the development of 1st home residential projects and logistics development projects in Croatia, both of which are exhibiting strong demand in the current environment.

The initial focus will be on residential property developments for the local market, mainly in Croatian cities of Split and Rijeka.

The fund, which will have a 7 year life, will target projects where substantial value may be added either through the project planning phase and/or as a result of discounted site acquisition from distressed vendors. It will be managed by Emerging Market Property Ltd and is being promoted by BlueGate Capital Ltd, the Manchester-based investment management company.

The fund, which aims to raise €25-30m (£22.6-27.2m) over the next three years, has a target internal rate of return of 25 per cent to 30 per cent a year.

The fund is primarily aimed at self-invested personal pensions (SIPP), small self administered schemes (SSAS), and private equity investors.

The minimum investment required is £50,000.