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Avenue Capital Group snaps up stake in Castlehaven Finance

U.S.-based investment firm Avenue Capital Group LLC agreed to acquire Pollen Street Capital's entire stake in Irish development and bridging finance lending platform Castlehaven Finance for more than €250 million.

Through the sale, Pollen Street Capital exits its investment in Castlehaven Finance, which it has held through its credit lending units P2P Global Investments PLC and Honeycomb Investment Trust Plc.

Castlehaven Finance is set to complete more than €300 million in lending in 2019. Avenue Capital Group said it will acquire the existing Castlehaven Finance portfolio from Pollen Street Capital and will provide future funding lines to continue growing the Castlehaven platform.