Pension reserve fund to develop supports for small firms

The National Pensions Reserve Fund is developing a range of support funds in partnership with third-party investors — ranging in size from €100m to €400m — for the SME sector.

Jobs Minister Richard Bruton said yesterday these will provide equity, credit and recovery investment for the country’s small business community. However, the minister was slow to add much information on the plan, apart from saying that full details would be published during the first quarter of the new year.

Asked yesterday about reports that BlueBay Asset Management — a London-based fixed-income investment firm — is set to be one of the players to join with the NPRF to offer loans to Irish SMEs, Mr Bruton did not deny nor confirm.