Initiative Ireland, a peer-to-peer lender to small builders, is to raise a €150m debt fund to finance housing projects.
The Irish stockbroker Davy will provide the necessary regulatory and investment management services to the senior debt fund.
Padraig W Rushe, the chief executive of Initiative Ireland, said the fund would finance small-scale residential property developments and was expected to be launched in September. “With such a fund,” he said, “we aim to support the construction of 2,500 additional houses for the market over the next five years, supporting smaller developers.”