Institutions Interested In Investing In Irish Banks - IAIM
"On their behalf, we approached the government and the chairs of the four banks that these institutions were interested in investing," IAIM spokesman Frank O'Dwyer told Dow Jones Newswires.
"We were the obvious conduit. Clearly we wouldn't associate ourselves with institutions unless we were satisfied with their integrity and scale," he added.
O'Dwyer wouldn't name the institutions or say how many there were, but he said they didn't include JC Flowers or the Carlyle Group, two private equity funds rumored to have shown an interest in investing in Irish banks.
"These institutions [which have approached IAIM] are more traditionally associated with fund management and taking a long-term view in their investment outlook," O'Dwyer said.
The Irish Association of Investment Managers, which was founded in 1986, is the representative body for institutional investment managers in Ireland and represents virtually the entire industry.
Last Friday, Bank of Ireland PLC (IRE) said it had received unsolicited approaches from a number of parties wishing to make an investment in the country's second-largest bank.
The Irish government has introduced a two-year EUR400 billion-plus guarantee plan covering Allied Irish Banks PLC (AIB), Bank of Ireland, Irish Life & Permanent PLC (IPM.DB) and Anglo Irish Bank PLC (ANGL.DB), plus two of Ireland's biggest building societies.
-By Quentin Fottrell, Dow Jones Newswires; 353-1-676-2189; quentin.fottrell@dowjones.com
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(END) Dow Jones Newswires
November 26, 2008 17:52 ET (22:52 GMT)
Publié le 26 novembre 2008 Copyright © 2008 Dowjones
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