€2bn +track
since 2011
-
Our expertise includes structuring and executing complex transactions through fund-managed SPVs in dynamic and evolving markets.
-
With a track record exceeding €2BN since 2011, we have led corporate initiatives across the full company lifecycle—from acquisition and restructuring to exit. Our experience spans the oversight of company platforms and SPVs holding underlying investments, with a focus on optimising operational structures, enhancing governance, and supporting strategic transitions.
-
With a deep understanding of market cycles and strategic repositioning at the platform and SPV level, we have enabled investors to navigate complex transactions and optimise corporate structures. Our work spans the identification of opportunities in core and opportunistic markets, the execution of strategic acquisitions and exits, and the delivery of sustainable outcomes aligned with investor growth objectives.
-
Success lies in knowing when to act, where to allocate capital, and how to drive value. We have structured intelligent entry and exit strategies across platforms and SPVs, enabling investors to scale with precision.
Deals
Acquisitions
Sales
ABOUT OUR FOUNDER:
Sheelam Chadha
I am a co-founder of the KU Leuven Private Equity Real Estate course, a pioneering program designed to bridge the gap between academic knowledge and real-world investment strategies. This course equips professionals with the tools to navigate the complexities of private equity in real estate, focusing on deal structuring, value creation, and market dynamics. Developed in collaboration with industry leaders, it provides a practical, forward-thinking approach to real estate investment, ensuring participants gain actionable insights into an evolving global market.
I’m proudly 3 nationalities: Canadian, British, and Belgian—a true mix of cultures and influences that make for an interesting. Growing up in Canada, I learned to embrace the great outdoors, skiing and hockey. The UK taught me that cold dry winters in Canada are no match for 6 months of rain. And Belgium? Well, it’s where I discovered the art of beer and good eating. This unique blend of backgrounds shapes my approach to both business and life, allowing me to navigate challenges with a global perspective and a touch of humor.
2008–2011: Savills
Head of Research (belux) based in London and Associate Director, Investment (Brussels)
2011–2021: Patrizia (IVG/Triuva)
Investment Director Belux, overseeing €2bn+ in transactions across office, residential, logistics, and retail. Led portfolio restructurings, acquisitions, and capital inflows into Belgium and Luxembourg.
2022–2025: Atenor
Country Director Belgium, responsible for 500,000 sqm of office and residential projects.

Why I Founded Dry Capital
After nearly 20 years within institutional real estate and private equity, I experienced both the strengths and the constraints of working inside a single capital manager. The European development market needed a platform that was broader, more agile, and better connected — one that could efficiently combine local expertise with international capital market knowledge.
Dry Capital was created to bridge this gap. Leveraging two decades of transactional experience, trusted networks, and deep investor relationships, the firm consistently connects capital with opportunity. Through joint ventures, debt, and equity solutions, we unlock value and deliver sustainable growth for both investors and developers.