Funds sell over €30m worth of Glenveagh shares as other shareholders up stakes | Business Post

Stephen Garvey , chief executive of Glenveagh, said it wanted to reach a point where it was building 3,000 homes a year. Picture: Maura Hickey

Rye Bay Capital, a London hedge fund, sold nearly €30 million worth of shares in Glenveagh Properties last week, stock exchange filings show. The fund reduced its stake from 6.7 per cent to 3.34 per cent in two separate tranches. Another firm also trimmed its stake in Glenveagh at the same time. Teleios Capital, an activist fund run by American investor Adam Epstein, sold €1.5 million worth of shares to take its stake from 15 to 14.82 per cent.

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