The Bank of Ireland has sold its 50% holding in Paul Capital Investments, a private equity fund of funds manager, The Wall Street Journal reports. The part-nationalized lender will sell the stake in the private equity fund to the firm’s existing management team.
The sale will have a negligible impact on the group’s capital position as its share of Paul’s net assets is worth about €10 million. The disposal represents the Irish bank’s exit from institutional fund management.
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