KKR: Global private equity firm to lend half a billion euro to Irish builders
Published 28/07/2015 | 07:52
One of the world's biggest private equity firms is to lend half a billion euro to builders here in partnership with the government.
The deal, expected to be announced this morning, will see KKR's lending business and Ireland's Strategic Investment Fund make €500m available for developers building houses.
The new vehicle will be called Activate Capital.
The agreement will likely give the sector a huge boost. Despite the housing shortage in Dublin and elsewhere, the cost of building and a lack of available finance has strangled new construction.