DUBLIN investment firm Elkstone Partners has confirmed plans to open a new office in Northern Ireland.
It comes two years after the Irish finance house made its first major move in the north.
Elkstone is investing £20 million in a 156-room student accommodation development on Belfast’s Bradbury Place, close to Queen’s University.
The company is now planning to expand on its office portfolio in Dublin, Galway and Cork with a new northern base.
It comes as Elkstone announced it has raised around €5m (£4.4m) in strategic capital from a range of investors and clients, including Dalata hotel group founder Pat McCann.
The company said it will be used to continue investing in “housing, venture, and other impact areas across the island of Ireland”.
Chief executive Alan Merriman said: "We are pleased that our clients have demonstrated added trust in Elkstone by becoming shareholders.
“This is the best possible endorsement we can get and reflects both on the robustness of our collaborative open investment architecture and the faith our clients have in our vision and stellar team.
“We want to build a special Irish business with lasting positive impact.”
He added: “Our client base includes some of Ireland’s most successful entrepreneurs and C-suite executives, with strong relationships across global family offices and leading international investment firms, Elkstone is positioned in the Irish market to help in a meaningful way with ongoing housing challenges; fostering further the Irish venture ecosystem; and improving access to sophisticated wealth management and impact investing – across the entire Island of Ireland.”
