ELKSTONE CAPITAL, the new Dublin-based corporate finance firm set by former Barclays banker Roger Jenkins, has not ruled out investing in Irish bank and distressed property assets but said its focus was on international deals.
Mr Jenkins has recruited Chris O’Connell, a former director of IBI Corporate Finance and managing director of Garrett Kelleher’s Shelbourne Developments, and Alan Merriman, former finance director of EBS building society, to run the firm from the IFSC.
Both have experience in property and banking, suggesting that Elkstone may run the rule over investments in these sectors. “While our focus is international rather than domestic, we won’t close our eyes to potential opportunities here if the circumstances are right,” said Mr O’Connell.
Investment opportunities are expected to arise over the coming months as Irish banks await rulings from the EU Commission on their restructuring plans as a condition of state financial support.
The Commission may force the banks to offload assets to shrink their businesses to prevent any competitive distortion in banking.
