Maples Group Advises AIB on Investment in Avenue Homebuilder Capital Solutions Fund
Maples and Calder (Ireland) LLP, the Maples Group’s law firm, is pleased to have advised AIB on the Irish legal and tax aspects of its €35 million equity investment in the Avenue Homebuilder Capital Solutions Fund, a State-backed vehicle managed by Avenue Capital to fund Irish house builders.
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The Avenue Homebuilder Capital Solutions Fund was seeded by the Ireland Strategic Investment Fund (ISIF) with €150 million and has now secured a combined €70 million in equity investment from AIB and Bank of Ireland. The vehicle will have capacity to fund the acquisition of land to deliver in excess of 12,000 housing units across Ireland.
A multi-disciplinary team of lawyers from the group’s Dublin office provided Irish legal and tax counsel to AIB on the transaction. The Maples team was co-led by Funds & Investment Management Partner Aaron Mulcahy and Ireland Head of Tax Will Fogarty with support from Tax Associate Karla Stack and Funds & Investment Management Associate Joe Coyne. This transaction is the latest in a series of investment mandates on which the group has advised AIB, reflecting our deep understanding of the bank’s strategic objectives.
From its Dublin offices, the Maples Group provides a comprehensive suite of legal, fiduciary, administration, management and entity services, alongside tax advisory, regulatory and compliance services. With over 500 people in Dublin, the Maples Group is a leading legal and corporate services provider in Ireland and a trusted partner to many of the world’s top asset managers, investment firms and banks.
