State fund takes stake in Finance Ireland

ISIF to invest €30m in lender founded by banker Billy Kane

25th November, 2016
Fergal McAleavey of the ISIF and Finance Ireland chief Billy Kane. Pic: Fennell Photogarphy

Under the deal, the former National Pensions Reserve Fund will invest €30m for a 32 per cent stake in the company.

After the investment, ISIF will nominate two directors to join the Finance Ireland board.

After today’s deal, Pimco and ISIF now hold similar equity positions in the company.

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