New fund will back Nama developers

A Dublin-based fund has started raising cash for a €200 million war chest aimed at refinancing the boom-era debts of former Nama developers.

Opportune, which is chaired by former Sean Quinn adviser Robert Dix, is understood to be planning to raise the cash pile from primarily US investors. It will lend money to former developers from Nama who wish to buy their debts back from ‘vulture funds’ who bought them from the state’s ...