About Us

Carysfort Capital was founded by Michael Looney in 2014.

From our launch, Carysfort has been very active buying both direct real estate assets and asset backed loans. Through this activity, the team at Carysfort has built up a strong knowledge of investment selection, transaction management and active asset management post acquisition of large and complex investments.

Carysfort started as a small business and has grown quickly. We have a clear idea of what investments will work for us and what don’t. We can give clear direction to sellers, developers, agents and other market participants on what we want to achieve. That allows us to focus our time effectively, as well as that of the market participants we interact with.

A key guiding principle of ours is

"Do what you say you’re going to do".

If we tell a developer we are going to buy their entire scheme for a given price at a given date, we will. If we tell our investors we will generate a stable levered return at a given rate, we will. That simple and consistent principle and the reputation which has been earned on the back of it, has encouraged sellers to sell to us, developers to partner with us and investors to continually re-invest with us.

Our Approach

In 2014/2015, our focus was buying assets or portfolios of assets which were selling at significantly below replacement value, due to complex problems which banks, receivers, borrowers and many other investors could not solve due to financial, timing, experience or other constraints. Common issues involved planning permission, rights of way, title, fire remediation and management. We are still working out some of these positions.

From 2016 our attention turned to larger deals which were being sold by receivers, which had the ability to be significantly improved through much needed refurbishment and active asset management.

From 2017 onwards, our focus has been on creating value through the aggregation of a number of moderate sized residential investments to create an efficient institutional grade residential investment platform.

Key to this is:

  1. Partnering with best in class developers and working closely with them through delivery, to ensure the product is right and will stand the test of time.
  2. Being a reliable largescale exit for developers, which allows them to build scale at pace, safe in the knowledge that Carysfort will be there on the delivery date with the capital we’ve committed. This is the key contribution which Carysfort can make to addressing Ireland's housing shortage.
  3. Acquiring assets at a price which will guarantee a moderate and stable return for our investors.
  4. Managing the asset and the platform tightly post-delivery to ensure we produce a clean, reliable and efficient cashflow in the short, medium and long term.

Carysfort Capital Team

Michael Looney
Managing Director

Michael started his career in Goldman Sachs (London), before moving to JPMorgan (London), focusing initially on real estate finance underwriting, before leading the syndicated real estate senior loan distribution effort for UK and Ireland.

In 2009 Michael set up a consulting business which initially focused on working out real estate loans for banks, before switching in 2010 to advising investors on acquiring troubled loan positions and assets which where being sold as part of bank deleveraging processes.

Michael moved back to Dublin in Q3 2014 to set up Carysfort to put these experiences to good use.

Qualifications

  • Bachelor's degree in Engineering from University College Cork
  • Master’s degree in Management Science from Smurfit School of Business, University College Dublin
  • Master’s degree in Real Estate from the University of Reading, UK

Peter McCague
Director - Property Delivery & Asset Management

Peter joined Carysfort Capital in 2017, from Mars Capital an operating partner of Oaktree Capital where he was responsible for the strategic asset management & disposal of c.1,000 residential properties nationwide. Prior to this he worked in Grant Thornton, managing the asset disposal strategy of a portfolio comprising over c.1,200 residential assets.

In Carysfort Capital, Peter manages and ensures the delivery and stabilisation of new acquisitions from development management through to asset management. He is also responsible for all the refurbishment and fitout activities across the Carysfort portfolio.

Qualifications

  • Bachelor of Science (BSc) Surveying, University of Ulster
  • Diploma in Accounting & Business, ACCA

Memberships

  • Society of Chartered Surveyors Ireland (SCSI)
  • Association of Chartered Certified Accountants (ACCA)
  • Property Service Regulatory Authority

Francis Murphy
Chief Operating Officer

Francis joined Carysfort Capital in 2019 as Finance Director. He is responsible for the group’s financial activities, structuring, the arrangement of debt and equity financing, as well as the smooth operation of the business.

Prior to joining Carysfort Capital Francis was Chief Financial Officer for a private family investment house, which was primarily focussed on real estate. There, he was responsible for all acquisitions, sales, finance, debt management and operations. Francis also held managerial positions with 3 pillar Irish banks over a 12-year period. During this time, he gained experience in client relationship management, various forms of lending, restructuring and dealt with Corporate, SME borrowers and High Net Worth Individuals.

Qualifications

  • Bachelor's degree in Accounting and Finance from University of Limerick
  • QFA, Institute of Bankers, University College Dublin

Memberships

  • Certified Public Accountants
  • Institute of Bankers
Profile photo for Mark Johnston

Mark Johnston
Director - Acquisitions & Asset Management

Mark joined Carysfort Capital in 2019, from WK Nowlan Real Estate Advisors where he was responsible for the acquisition and disposal of commercial buildings/development land, strategy consultancy, project/design team management and client brief development. Mark has over 15 years’ experience in the real estate sector, in development land, commercial and residential assets.

At Carysfort Capital, Mark is responsible for sourcing, analysing and the execution of both on and off market acquisitions, focusing on stabilised investments, forward-purchases, forward-funding and green/brown field (re)development opportunities. Additionally, shares the responsibility for the on-boarding of newly acquired assets to the Carysfort Capital platform.

Qualifications

  • Bachelor Science (BSc) Hons, Property Economics
  • Trinity Post-Grad in Project Management

Memberships

  • Full Member of the Royal Institute of Chartered Surveyors
  • Full Member of the Society of Chartered Surveyors Ireland
  • Fully licenced by the Property Services Regulator

Adam Williams
Investment Analyst

Adam joined Carysfort Capital in January 2020 as an Investment Analyst. Adam supports the deal origination and acquisition arms of the business. He carries out in-depth modelling of potential transactions and analyses the financial return metrics behind a potential deal

Prior to joining Carysfort Capital, Adam previously worked in investment banking as a part of Alantra’s Corporate Portfolio Advisory team where he priced mortgage portfolios, both performing and non-performing. He also worked with Susquehanna International Group and evaluated company fundamentals and volatility for European equity options

Adam holds a first-class honours degree in Economics from UCD and received the Lynch-Meenan medal for graduating first in his year.

Mairead Savage
Assistant Finance Manager

Mairead joined Carysfort Capital in December 2020 as an Assistant Finance Manager where she supports the finance arm of the business.

Prior to joining Carysfort Capital, Mairead worked as a finance manager for eight years with The Vertical Markets Recruitment Group. She also has experience in financial recruitment having spent five years as a senior recruiter with Hudson and she gained financial services experience while working as a senior fund accountant with JP Morgan in Dublin, Luxembourg, and Sydney.

Mairead holds a first-class honours degree in Public Administration from UL, and she has completed CIMA Operational level Examinations.