Sunday 18 March 2018

Texas-born private equity mogul John Grayken (59) became an Irish citizen in the late 1990s. He heads up investment group Lone Star, which has raised $60bn to buy up assets over the last 20 years.

Grayken's strategy is to buy assets in bombed-out economies, clean them up and sell them on for a huge profit. There have been epic returns over the last year. He made a fortune in Japan and south east Asia during the late 1990s.

Now Ireland is high on his list. Lone Star was one of the biggest buyers of loans and assets sold off by the Irish banks and Nama since the financial crisis. These have included anything from loans taken out by Irish backers of Sunderland FC to a raft of prominent pubs and office blocks. It is also the largest landowner in Spain, as well as owning interests in Germany and South Korea.

Grayken owns Pyford Manor in the UK, where classic horror chiller The Omen was filmed in 1976. He is also said to own a €100m waterside mansion on Lake Geneva and a superyacht in the Caribbean called the Virginian.

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