Irish win big on Alibaba
good day for
A group of Irish investors are sitting on profits worth millions of euro after backing the Chinese technology giant Alibaba.
Davy Private Client are understood to have put together a group of investors who put up about €20m in funds managed by private equity firm Silver Lake Partners.
Silver Lake was one of Alibaba's biggest supporters, pumping in about $825m (€644m) over several years.
The company has made about $4.6bn (€3.6bn) profit after Alibaba listed on the New York Stock Exchange.