Economy

xchrom

(108,903 posts)

39. Swedish corporate finance house to invest millions in Irish firms

Sun May 5, 2013, 10:08 AM

May 2013

http://www.irishtimes.com/business/sectors/financial-services/swedish-corporate-finance-house-to-invest-millions-in-irish-firms-1.1380913

Swedish corporate financier Proventus, whose backers include the Nobel Foundation, is seeking to invest up to €100 million in individual Irish companies as it moves to fill a gap left by low levels of bank lending here.

Stockholm-based Proventus, which manages funds of about €1.1 billion, recently loaned €65 million to green energy developer Gaelectric, which is spending €250 million on building a series of wind farms around Ireland.

Yesterday, Proventus chief executive Daniel Sachs confirmed his firm is looking for other opportunities in Ireland and has been taking soundings from banks and corporate advisers.

Good companies
“We have been looking at Ireland and we believe that there are good companies here that have potential and need funding,” he said, adding that the limited amount of bank finance available here has left a gap in the market that Proventus can fill.

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