./ team-and-track-record

Run by the people
who do the deals.

Founder-led and human-led — Dry Capital backs top-tier European sponsors across the capital stack (debt, preferred capital and recapitalisation), builds its own technology to run the analysis, and stays on the ground: close to every deal, sponsor and call.

./ how-we-work

Three things that do not change, deal to deal.

01 / 03

Underwritten like our own

Every deal underwritten like our own balance sheet. Priced for the market that exists, not the one we’d like.

02 / 03

Benelux · Iberia · Germany

Brussels HQ, Madrid coverage through Lake Capital for Iberia, and Germany. Local relationships across the corridors that matter.

03 / 03

The partners run every deal

Every deal is run by the two partners directly — you deal with the people on the ground, first call to close.

./ track-record

Forty-five years, all asset classes.

Between them the partners have personally led €4.5bn+ of transactions and 70+ deals across seven asset classes — as heads of investment at PATRIZIA, IVG and TRIUVA.

Years combined

€4.5bn+

Transactions led

70+

Deals

Asset classes

Figures illustrative; specifics under NDA.

Sheelam Chadha

Founder · Brussels

Nearly 20 years across Continental Europe as a head of investment for leading institutional investors — PATRIZIA, IVG and TRIUVA. Between 2011 and 2016 she led the liquidation of IVG’s fund portfolio for her region, executing several billion euros of asset sales through the cycle — a principal on the hook for every disposal, not an adviser on the sidelines.

€2.5 billion+ of transactions across office, residential, logistics and retail. Founded Dry Capital in 2025.

Brussels, BelgiumLinkedIn →

Maria Laguna

Iberia Partner · Lake Capital · Madrid

Over 25 years across Southern Europe. Head of Iberian Transactions at IVG, TRIUVA and PATRIZIA until 2020, before establishing DeA Capital’s Iberian platform. Between 2011 and 2016 she ran the liquidation of IVG’s Iberian funds, delivering billions of euros of sales — a principal making the hard calls through the downturn, not adviser theory.

Acquisitions and disposals across logistics, residential, office, retail and hospitality.

Madrid, SpainLinkedIn →