Tuesday 13 November 2018

The omen for private equity baron Grayken

The Omen house, now owned by John P Grayken of Lone Star
The Omen house, now owned by John P Grayken of Lone Star

Billionaire private equity baron John Grayken may seem possessed.

His Lone Star private equity group has possibly made the single biggest bet on the Irish recovery, buying up billions in bank assets, distressed loans and properties being sold as part of the epic bank deleveraging.

Grayken, who took out Irish citizenship in the early 1990s, now lives in Pyrford Court, according to an SEC filing for Continental Building Products, in which he has disclosed a 51pc stake in recent weeks.

Pyrford Court, in Surrey, is listed as Grayken's "principal business address", according to the filings, which also notes "Mr John P Grayken is an Irish citizen".

Pyrford Court is an Edwardian country pile built in 1910 for the 2nd Lord Iveagh from the Guinness brewing dynasty. The Grade II listed 15-bedroom house sits on 20 acres of farmland.

It was sold in 2003 for €8.5m before returning to the market in 2010, with a price tag of €25m. The house is probably best known for being the location for the 1976 classic horror film The Omen, (pictured) starring Gregory Peck and Lee Remick.

Private equity tycoons are supposed to be scary - but surely this is going a little too far?

Sunday Indo Business

Business Newsletter

Read the leading stories from the world of Business.

Also in Business