Fine Grain Property, an Irish-Singaporean investment company chaired by former Telecom Éireann chairman Ron Bolger, is assembling a new fund with a warchest of up to €150 million to target Irish commercial property. The fund, FGPO Ireland Fund II, is Fine Grain’s second-such fund, after its first, with €100 million to invest, was assembled earlier this year in partnership with the State-owned Ireland Strategic Investment Fund (ISIF). The first Fine Grain fund has already been substantially deployed, with major purchases including office blocks in Dublin and Galway, and also the development of a further office scheme in Galway. Fine Grain said, however, that it expects the majority of the equity for the second fund to come from institutional investors. Mr Bolger, a former KPMG managing partner, who is honorary consul of Singapore in Ireland, chairs both the Irish operation and the wider Fine Grain group, which was founded in Singapore by former HSBC banker Colin MacDonald.

Source: The Irish Times December 12, 2017 05:37 UTC