Derek Quinlan: Switzerland

Quinlan Private (QP), the private equity group, is believed to be "close" to completing the re-financing of five of its key property deals amid improving risk-appetite among international and Irish banks.

The company has declined to specify precisely which deals are being re-financed or on what terms, but it is understood some shareholders will be significantly diluted once the deals are completed. The company has denied that existing investors have, in large scale, refused to contribute to any cash calls.

Re-financings are common place around the world in the real-estate sector in the current market and the company believes it can conclude the deals successfully.

It is understood that under structures put in place by Quinlan Private, each deal has a separate investor group. Consequently, there is no way one investor can know what is happening in a wider group of QP deals. The founder of the group, Derek Quinlan, is reported to have moved to Switzerland.

QP sold the Asprey store on Bond Street in London to Hermès last week.