New Chairman at Brehon Capital Partners
Published on Aug 25 2014 1:19 PM in Hotel
Brehon Capital Partners has announced that it has appointed Paul Connolly, a corporate financier and adviser to Credit Suisse, as non-executive chairman.
Connolly established investment banking firm Connolly Capital and is also a director at Independent News & Media, APN News & Media and Communicorp.
Brehon purchased Killashee House Hotel (pictured) in Co Kildare last week, its latest investment venture, but Connolly is expected to assist Brehon in attracting funds to move into property development as opposed to focusing solely on investment.
Brehon is also believed to be close to completing a deal to buy Citywest Hotel and event centre in Dublin for approximately €30 million.
Kevin McGillycuddy, managing director of Brehon, said, "we are delighted to have someone with Paul's business experience and financial expertise join our board." He also added that the appointment will provide the firm with "the right framework to continue our investment program and also successfully manage and develop our existing portfolio."
Connolly said "The Brehon team have done a great job building a portfolio of valuable assets. They have shown the market timing and price discipline to do the right kind of deals, and I am delighted to be supporting them as chairman at this exciting time in the recovery of the Irish property market."