New private equity fund plans to establish unit in Ireland

A new private equity fund set up by ex-Lone Star vice chairman Ellis Short to buy loan books across Europe is establishing a unit in Ireland, a source close to the matter said.

Irish property prices are rising again following a huge crash and some property portfolios are being put up for sale, drawing growing interest from private equity and investment funds, particularly those in the United States.

Short’s Kildare Partners, which according to its website is being set up to target non- or sub-performing real-estate related portfolios in western Europe, will open its Irish office in the coming weeks, the source said yesterday.