Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Public Accounts Committee

National Asset Management Agency: Financial Statements 2014

9:30 am

Mr. Brendan McDonagh:

Yes, they looked at it. Some of them pulled out straightaway and said it was not for them. Some of them had a look at the dataroom and said we understand the concentration of assets, and the granular nature of assets, and said we are not going to spend any money on due diligence and this just is not for us because they have funds that they are investing to get a return. Three remained in the final month of the bid process. There was a three-month bid process from January to the end of March. Up until 10 March there were three bidders actively looking at the portfolio - Cerberus, PIMCO and Fortress.

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