Project Union

Aug 2019

Sell-side advisory – Residential loans

Value €250 million

Alantra, an independent global investment banking and asset management firm, has advised Pollen Street Capital on the sale of its interest in Castlehaven Finance to the Avenue Capital Group for an amount in excess of €250m. The transaction sees Pollen Street Capital exit its investment in Castlehaven Finance, which it has held through its credit lending arms, P2P Global Investments PLC & Honeycomb Investment Trust PLC.

Castlehaven Finance was founded in response to the need for an alternative lender in the residential development market as the Irish housing market began to recover in 2014 and has provided over €580m in finance since inception. Since partnering with Pollen Street Capital in 2016, Pollen Street Capital has provided financing to Castlehaven Finance in excess of €385m and Castlehaven Finance has grown to providing funding nationwide and is now one of the top development and bridging finance lenders in Ireland.

The Avenue Capital Group will acquire the existing Castlehaven Finance Portfolio from Pollen Street Capital and will provide future funding lines to allow the Castlehaven platform to continue to grow.

Alantra Corporate Portfolio Advisors acted as financial advisor to Pollen Street Capital throughout the transaction.