Belfast Telegraph

Sunday 20 April 2014

Quinlan hopes to raise £1bn with Citigroup Centre sale

Derek Quinlan, the high-profile financier, has begun to seek deals again working with Kalli Capital, a business set up by his adviser Gerry Murphy, a former banker.

Kalli, which is fully owned by Mr Murphy, has opened an office in Berkeley Square in Mayfair, London.

"Debt reduction remains my overriding priority. I have been co-operating with my lenders to reduce bank debt since September 2009. Since then, my personal and associated debt has reduced by £1.96bn (€2.3bn)," he said.

Quinlan was reported last month to be close to selling the Citigroup Centre in Canary Wharf, which he co-owns with the Propinvest Group, for £1bn (€1.17bn) to a Middle East-backed fund manager called AGC Equity Partners.

A syndicate of Irish and UK banks funded the acquisition and its sale is expected to return another £340m (€400m) to Nama.