Irish housing fund Activate Capital pays out €3m to directors

The firm has advanced loans worth more than €1.9 billion to developers, which have funded the construction of more than 18,250 homes

Robert Gallagher, chief executive of Activate Capital, which also paid out €834,000 in emoluments to board members in 2022. Picture: Mark Stedman/Photocall Ireland

Activate Capital, one of Ireland’s biggest domestic housing funds, has paid out another €1 million dividend to directors, which has brought payouts up to nearly €3 million.

The agency, established in 2015, was co-founded by the Ireland Strategic Investment Fund (Isif), the state’s sovereign wealth fund, and KKR, a New-York investment fund.

Isif contributed €400 million to the fund while KKR supplied €175 million, which would be loaned exclusively to developers of Irish residential projects. ...