11.01.2013 - Ireland's pensions reserve fund earmarks EUR500mln for SMEs
The National Pension Reserve Fund (NPRF) has teamed up with international "vulture funds" to buy up struggling businesses and, it is hoped, return them to viability. The joint venture with "turnaround" specialist Better Capital is one of three new initiatives that will see the NPRF pump 500m of the 14bn it manages into helping stabilise small- and medium-sized enterprises (SMEs), with loans and investment. A further 350m is being provided by international investors as part of the same initiative. UK-based Jon Moulton's Better Capital has teamed up to create a new 100m SME Turnaround Fund, financed 50:50 with the NPRF, to buy companies that are on the point of collapse but have the potential to be restructured...............................................Full Article: Source
Print