The Ireland Strategic Investment Fund, managed and controlled by the National Treasury Management Agency (NTMA), is a €7.9 billion sovereign development fund with a unique mandate. The fund has a statutory mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. The fund’s predecessor was the National Pensions Reserve Fund (NPRF).
In seeking to support economic activity and employment, as well as generating commercial return, the fund has a “double bottom line” requirement, necessitating that all of the fund’s investments generate both investment returns and a positive economic impact in Ireland.
With almost €8 billion available to deploy, the fund differs from other pools of capital in a number of key respects. It has a long investment time horizon and can act as a permanent or patient source of long-term capital. It has flexibility up and down the capital structure and can therefore meet changing capital needs and gaps in the marketplace.
The fund will seek to invest in transactions where it can make a difference, where its characteristics can enable commercial investment transactions with positive economic impact and can make it an attractive “investor of choice” for company and project sponsors and advisors.
In line with its mandate and the current investment landscape in Ireland, the fund’s investment portfolio includes investments across a range of sectors including infrastructure (such as water and energy), 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, its mandate also offers the possibility for investment in new areas of potential competitive advantage for the Irish economy and to have a material transformative impact over time.
2 Grand Canal St.
Dublin D02 XN96