Mr. Frank Daly:

That is what they do, and there is no contradiction of that. On the other hand, if one reads their submission to the Northern Ireland finance committee, one sees they are also very clear about their commitment to Northern Ireland and investment and all of that. That is what these funds do. They are the ones that are interested in it. I agree with the Deputy that some of them are in it for the longer haul more than others. Is it surprising that Cerberus is bidding for Project Arrow? No. It is not surprising that Apollo is interested or that some others are interested either.

The Deputy used the phrase "coming at us". We advertised Project Arrow and we have Cushman & Wakefield managing that portfolio for us. They would have been off looking for people, trying to generate interest in it. I do not want to talk down the portfolio, because we obviously want to get the price we can for it, but what is in it does not make the most attractive portfolio in the world. It is granular, non-performing, regional, and has very small loans - a huge number of them.