Finance Ireland, led by Billy Kane, has raised €50 million in fresh equity from UK asset manager M&G and existing shareholder PimcoFinance Ireland, the Billy Kane-led non-bank lender that traces its roots back to 2002, hasn’t had the best of luck with the stock market over the years.
In late 2010, the business crept into the car financing market, with funding from UK merchant bank Close Brothers, laying the groundwork for what would become the largest non-bank lender in the State. His plans were thwarted in March 2020 as Covid-19 swept across the globe, sending financial markets into a tizzy.
But any hopes of a fresh stab at an IPO in the near term would, of course, have been dashed by the slump in global equity markets in recent months.
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Source: IrishTimes - 🏆 3. / 98 Read more »
ISIF exits Finance Ireland as M&G buys large stakeThe Ireland Strategic Investment Fund (ISIF) has sold its entire 33% stake in the country's largest non-bank lender, Finance Ireland, as part of a series of transactions at the firm.
Source: RTEbusiness - 🏆 16. / 61 Read more »