Padraig Rushe

Initiative Ireland launches UK subsidiary

Initiative Ireland has launched a UK subsidiary to lead its expansion in the country.

The subsidiary — Initiative Financial Services UK (IFSUK) — will enable UK companies to invest in secured Irish property loans through corporate lending accounts and regulated debt funds.

IFSUK will offer corporate lending accounts in the UK — on behalf of Initiative Ireland — which will enable UK companies to lend directly through the Irish P2P finance platform.

It is the appointed distributor for the Initiative Financial Senior Credit Property Sub-Fund I, a five-year closed ended fund designed to finance the construction of social, affordable and mid-market housing across Ireland.

Padraig Rushe, CEO at Initiative Ireland (pictured above), said: “As a conservative lender we are focused on supporting experienced developers.

“All loans are secured with a first legal charge as a minimum, and we are focused on social, affordable and mid-market housing where there is sustainable unmet demand and where we can secure risk-optimised returns and deliver lasting positive social impact for our communities.”

Brian Ó’ Nualláin, director of investment at IFSUK, added: “The Irish residential property market is still suffering from [an] inadequate supply of new stock, with a significant lack in social, affordable and mid-market housing,”

“…The fund is open to professional investors across the UK, such as pension fund managers, institutional investors and family offices with a minimum investment of €100,000.

“Corporate lending accounts are available to UK companies (excluding partnerships) with a minimum commitment €10,000 per loan.”

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