€100m committed to Avenue Capital Group including a €25m commitment to Avenue Europe Special Situations Fund V, and a €75m commitment to a dedicated Fund that will support the construction of new homes in Ireland through Avenue’s partnership with Castlehaven Finance.
Castlehaven Finance was founded by Clark McCann and Will Aylmer in 2014, in response to the need for alternative development financing in the Irish marketplace, given the reduction in available bank debt for the sector at that time. Since then, the company has advanced property development finance to the homebuilding industry and is now one of the top alternative finance lenders in Ireland. Castlehaven Finance provides senior development loans to support the construction of new homes across a mix of type and tenure.
This investment by ISIF, in partnering with Avenue, will significantly enhance the lending capacity of Castlehaven, supporting the construction of new mass market homes nationwide.
