Sean Mulryan, the Irishman who built Ballymore into one of Europe’s biggest property companies, is on a £500m fundraising campaign to finance expansion of his private property empire.
Horseracing fan Mulryan has been hit hard by the credit crunch and the slump in property values. But now he wants to raise fresh equity capital from wealthy investors prepared to put in at least £30m each in order to get Ballymore building again.
The money would help to finance between five and six new projects. It is understood Ballymore is targeting wealthy funds and professional investors. It has 43 different development projects in its portfolio.