A new £100m NI Investment Fund has been launched by the Department of Finance.
CBRE Capital Advisors have been appointed to manage the Fund for 15 years.
Agreed by the previous Executive it will focus on investment in the areas of regeneration, office and low carbon projects to deliver economic growth and is expected play a significant role in supporting private sector investment in key areas of local development over the next decade
It will lever in private finance and reinvest the £100 million over this period.
The main areas targeted for investment through this initiative are:
· mixed use site development;
· offices; industrial,
· warehousing and distribution facilities;
· research and development facilities;
· site remediation and access;
· other physical development that supports economic growth; energy efficiency, energy storage; energy generation from solar, wind, hydro and waste to energy projects
CBRE will be overseen by a Scrutiny Board, consisting of three private sector members and two public sector members.
The Chair will be Stephen Kirkpatrick, who has significant senior banking experience with Bank of Ireland.
The £100 million will be provided to CBRE in three tranches, with the initial £40 million tranche of funding expected to be disbursed in January 2018.
Further tranches will then depend on CBRE meeting certain commitment and disbursement targets.