In line with our mandate and the current investment landscape in Ireland, the Fund’s ultimate investment portfolio will include investments across a range of sectors including infrastructure (such as water, energy and PPPs), housing, the SME sector (including equity, mezzanine and credit investments), food and agriculture, real estate based investments, venture capital, and private equity.
Looking to the longer term, the Fund’s mandate also offers the possibility for investment in new areas of potential competitive advantage for the Irish economy and to have a material positive impact over time.
The size and nature of the market opportunity for the Fund in Ireland is highly uncertain. While initial estimates based on best available information have been made of the investment gap in each of the main sectors under consideration, these estimates will be subject to constant revision. The investment opportunities we expect may not materialise and alternative routes to deploying investment will need to be devised and implemented.
The illustrative ISIF portfolio is based on an assumed participation by the Fund in 25%, on average, of the estimated available and suitable investment opportunities. It is anticipated that it will take 3 to 5 years to deploy the funds.
The most important point in relation to the illustrative Fund portfolio is that the bucket sizes should be regarded as purely indicative and that they will inevitably change in light of the transaction opportunity set that can be developed.
| Bucket | Theme | €m | +/- range |
|---|---|---|---|
| 2x multiple | 14,800 | ||
| 1 | Water | 700 | +/- 100m |
| 2 | Infrastructure | 850 | +/- 150m |
| 3 | Energy | 800 | +/- 100m |
| 4 | SMEs | 900 | +/- 200m |
| 5 | Food & Agriculture | 500 | +/- 50m |
| 6 | Real Estate Based Businesses | 1,000 | +/- 200m |
| 7 | Venture | 500 | +/- 50m |
| 8 | Direct Private Equity | 400 | +/- 40m |
| 9 | Innovation/Big Idea | 1,000 | +/- 200m |
| 10 | Other | 750 | +/- 50m |
| Total fund size: | 7,400 |