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BUSINESS

Beach Point Capital tides over new Sunday Business Post owner

Brian Carey
The Sunday Times
Enda O’Coineen, the new owner of The Sunday Business Post, is exploring a flotation of parent company Encircle
Enda O’Coineen, the new owner of The Sunday Business Post, is exploring a flotation of parent company Encircle
BRYAN MEADE
Brian Carey
The Sunday Times

Beach Point Capital, a US credit fund, is backing the new owner of The Sunday Business Post.

Filings for Encircle Business Post 365 show that Beach Point Capital recently took a charge against certain assets of the group.

Beach Point is one of an estimated 31 alternative, non-bank lenders in the Irish market. The majority of these are active only in secured lending to the property sector. Beach Point is one of just a few cash-flow lenders.

The fund entered the Irish market via its acquisition of a portfolio of loans originated by BMS Finance Ireland. Founded in 2016, BMS was backed by the Ireland Strategic Investment Fund. The BMS loan portfolio includes credit advanced to Maximum Media, the publisher of Joe.ie, and Irish Studio,