- ISIF significantly exceeding its target for attracting private sector co-investment
- €8.1 billion now committed to ISIF-backed projects
- Over 500 entrepreneurs, investors and advisors attend latest ISIF Market Engagement Event
Friday 26th May 2017
The Ireland Strategic Investment Fund (ISIF), managed by the National Treasury Management Agency (NTMA), is acting as a major catalyst for stimulating private sector investment in Irish businesses, infrastructure and projects, ISIF Director Eugene O’Callaghan said today.
Mr. O’Callaghan was speaking at ISIF’s annual Market Engagement Event, which took place at Convention Centre Dublin and was attended by over 500 entrepreneurs, investors and advisors.
Attendees heard that:
- ISIF is exceeding its original target of attracting €1m in private sector investment alongside every €1m it invests – the current private sector co-investment rate is €1.9m alongside every €1m invested by ISIF.
- ISIF and co-investors have now committed €8.1bn to investments in Ireland (€2.8bn ISIF/€5.3bn co-investor).
- The 140 Irish companies and projects supported by this investment activity generate annual revenues in excess of €1bn, 28% of which is exported, and employ more than 22,000 people directly and indirectly, with close to 50% of jobs supported being outside of Dublin
Mr O’Callaghan said:
“ISIF is seeking to generate wider economic benefits while at the same time delivering commercial investment returns.
We have established a strong pattern of taking a minority interest in commercial investments alongside private capital and this has enabled us to team up with domestic and global investors to develop a diverse portfolio of high-quality investments.
Through our investments we are aiming to strengthen the Irish economy, support its engines of growth and position key sectors to lead, innovative and compete at a global level.”
The keynote speaker at today’s event was Declan Kelleher, Ireland’s Permanent Representative to the EU and former Ambassador to China. Other speakers included Conor O’Kelly, NTMA Chief Executive and senior executives from ISIF investee companies and from across the Irish business community.