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Galway, Ireland - Economic Development

From: domainremoved <>
Date: Tue, 5 Aug 2014 15:50:01 -0400

Honorable Mayor Mueller and City Council Members,
 
Many companies in the United States invest in the country of Ireland,
including the potential of Menlo Park firms investing in Galway, and conversely
Galway, Ireland firms investing in Menlo Park. Efforts are underway to
achieve that vision. The expression may say it well with "The Best Is Yet To
Come".
 
In October, the Two Menlos group plans to provide a one year anniversary
update to the Menlo Park City Council outlining achievements made in year
2014 and a number of exciting plans for year 2015. Connecting with friends
internationally can not only be fun, it can also be profitable.
 
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http://www.irishtimes.com/business/innovation/carlyle-cardinal-to-invest-292
m-in-ireland-1.1886501
Carlyle Cardinal to invest €292m in Ireland
US equity group launched Irish fund last year with €125 million backing
from the NPRF
 
 
Robert Easton, head of Carlyle’s CCI team: ‘This successful fundraising
process reflects the promise in the Irish economy’
Eoin Burke Kennedy
_Mon, Aug 4, 2014, 01:01_
(http://www.irishtimes.com/business/innovation/carlyle-cardinal-to-invest-292m-in-ireland-1.1886501)
First published:Mon, Aug 4, 2014, 01:01
· ·
US equity group _Carlyle_
(http://www.irishtimes.com/search/search-7.1213540?tag_company=Carlyle&article=true) and its Dublin-based partner Cardinal
Capital are set to announce a number of high-profile investments in
_Ireland_
(http://www.irishtimes.com/search/search-7.1213540?tag_location=Ireland&article=true) in coming months.
The groups have raised €292 million to invest in businesses here via their
Carlyle Cardinal Ireland (CCI) fund.
The fund was launched a year ago with €125 million backing from the
National Pension Reserve Fund (NPRF).
The aim is to invest in small and medium-sized businesses, possibly by
providing equity to companies wishing to refinance their debts.
The fund, which closed last month just short of its €300 million target,
is focusing on deals in the technology, media and telecommunications sector
as well as healthcare, clean-tech and consumer brands. However, it may also
look at more complex finance deals such as buying mortgage- backed
securities or other distressed financial assets.
The fund made its first investment earlier this year, taking a majority
stake in Kildare-based chocolate manufacturer Lily O’Brien’s in a deal said
to be worth €15 million to the company. Several other investments are
understood to be in the pipeline.
“This successful fundraising process reflects the promise in the Irish
economy,” said _Robert Easton_
(http://www.irishtimes.com/search/search-7.1213540?tag_person=Robert%20Easton&article=true) , head of Carlyle’s CCI team.
“Carlyle’s deep industry expertise and Cardinal’s broad local knowledge
and Irish market experience will help us find further attractive Irish
businesses to partner with,” he added.
Cardinal Capital co-founder Nigel McDermott said: “We are pleased with the
international fundraising process, which supports and endorses the
investment strategy of our cornerstone investors, the NPRF and _Enterprise
Ireland_
(http://www.irishtimes.com/search/search-7.1213540?tag_organisation=Enterprise%20Ireland&article=true) . ”
_Mon, Aug 4, 2014, 01:01_
(http://www.irishtimes.com/business/innovation/carlyle-cardinal-to-invest-292m-in-ireland-1.1886501)
First published:Mon, Aug 4, 2014, 01:01
·




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Received on Tue Aug 05 2014 - 12:46:36 PDT

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