Mr. Nick Ashmore:

It tends to be a mix. In some situations, we get an inbound request to finance a fast-growing company that is going to have a serious impact. It might be quite a fast-moving process and we might have to move quite quickly. In the case of urban regeneration on the Limerick Opera site, the transaction was three, four or even five years in the making. In that case the NTMA was proactive and sought to get the stakeholders together to see what could be worked out, what their needs were, what we were looking to do and how to make it work. In terms of housing, we get inbound requests for financing from developers and people who are financing developing. When we look at new situations where we might want to deliver a market solution, perhaps through a new fund that would provide equity for a number of developers, we might actually look for people to partner with us. It is a mix of proactive and reactive approaches.