Bloomberg News

Ireland’s NAMA Says First Fund May Have Less Than $657 Million

February 17, 2012

Feb. 17 (Bloomberg) -- Ireland’s National Asset Management Agency said its first fund to allow investment in real estate in the country and the U.K. will probably have less than 500 million euros ($657 million) of assets under management, according to a filing by NAMA.

Office, retail and other properties may be included in the fund, NAMA said on Irish government’s procurement website in response to questions from potential advisers. The fund would acquire properties that are under receivership, David Clerkin, a NAMA spokesman, said in January.

The funds, known as Qualifying Investor Funds, would be subject to Irish law. NAMA, based in Dublin, is seeking investment-management services to help operate the funds, according to documents posted on the agency’s website.

--Editors: Jeffrey St.Onge, Ross Larsen

7583684Z ID

To contact the reporter on this story: Neil Callanan in London at ncallanan@bloomberg.net

To contact the editor responsible for this story: Ross Larsen in London at rlarsen2@bloomberg.net.


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