About ISIF

Flexible, Long–Term, Sovereign Investment Partner

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To invest on a commercial basis to support economic activity and employment in Ireland

The Ireland Strategic Investment Fund (ISIF), controlled and managed by the National Treasury Management Agency (NTMA) is a €12.7bn fund. ISIF is a flexible, long-term, sovereign investment partner with a unique mandate. The ISIF is comprised of the Discretionary Portfolio and the Directed Portfolio. The Discretionary Portfolio (€8.8 billion) has a statutory mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. The Directed Portfolio (€3.9 billion - primarily public policy investments in AIB and Bank of Ireland) continues to be held within the ISIF, under direction from the Minister for Finance.

ISIF has a long investment time horizon and therefore can act as a permanent or patient source of long-term capital. ISIF’s flexible capital can adapt and be responsive to the capital requirements of businesses and projects in the Irish market.

PRIORITY THEMES

The Fund has evolved to focus on several priority themes such as Regional Development, Housing, Indigenous Businesses, Climate Change, and sectors adversely affected by Brexit. In addition to the Priority Themes, the Connectivity Fund sub-portfolio in the ISIF includes projects that enhance Ireland’s global data, energy, and physical connectivity.

PANDEMIC STABILISATION AND RECOVERY FUND (PSRF)

In May 2020 the Minister for Finance announced the establishment within ISIF of a €2 billion Pandemic Stabilisation and Recovery Fund (PSRF). As a sub-fund of ISIF, the PSRF operates within the existing ISIF statutory “double bottom line” mandate, with a particular investment focus on businesses impacted by the pandemic and those critical to Ireland’s ability to respond to the pandemic. Initially, with the pandemic at its height and businesses in urgent need of capital and support, the investment approach focused on stabilisation – i.e., investing commercially to ensure that medium and large businesses of scale negatively impacted by the COVID-19 crisis, could return to viability and contribute to the recovery of the Irish economy. Investing commercially to support economic recovery and growth more widely is expected to take over as the investment approach as the economy enters an anticipated recovery phase. In this phase, ISIF will continue to invest in companies of scale and those that can contribute significantly to the growth of the Irish economy, with a particular focus on the Priority Themes of Regional Development, Indigenous Businesses, Housing, Climate Change and sectors adversely affected by Brexit.

ISIF has continued to support new indirect investment funds including where the funds’ strategies are pandemic related. As a long-term patient capital investor, ISIF has also continued to support its existing direct and indirect investments including, with additional finance as appropriate, in line with its mandate. Some flexibility is maintained to take advantage of selective, compelling opportunities of national significance which are consistent with the ISIF mandate and which do not fit under either the PSRF strategy or the Priority Themes.

Ireland Strategic Investment Fund