Ireland Strategic Investment Fund
| ISIN | 🆔 |
|---|---|
| Founded 📆 | December 2014 |
| Founder 👔 | |
Area served 🗺️ | |
| Total assets | €15.1 billion (2019) |
| Owner | National Treasury Management Agency |
| Members | |
Number of employees | |
| 🌐 Website | isif |
| 📇 Address | |
| 📞 telephone | |
The Ireland Strategic Investment Fund (ISIF) is the sovereign wealth fund of the Republic of Ireland. The fund is managed by the National Treasury Management Agency (NTMA).
History[edit]
The Ireland Strategic Investment Fund was established in December 2014, from the assets of the former National Pensions Reserve Fund (NPRF).[1] The fund's aim was to support economic activity and employment in Ireland.[2]
In September 2015, the ISIF sold its 25.1% stake in Aer Lingus, returning a profit of €240 million.[3]
In 2016, the ISIF divested of all its holdings in tobacco companies.[4]
In 2018, the Oireachtas passed the Fossil Fuel Divestment Act 2018, requiring the ISIF to divest all investments in coal, oil, gas, and peat within five years, and prohibiting the ISIF from investing in these areas in the future.[5][6]
The ISIF established the Home Building Finance Ireland (HBFI), a €750 million sub-fund for commercial investment in housing finance in 2018.[7]
In response to the COVID-19 pandemic, the Minister for Finance, Paschal Donohoe, announced that the ISIF would establish the Pandemic Stabilisation and Recovery Fund, a sub-fund providing capital to medium and large businesses on commercial terms.[8]
In December 2020, Nick Ashmore was appointed as the new director of the ISIF, replacing Eugene O'Callaghan who had served as the fund's director since its inception.[9]
In March 2021, the ISIF invested €42 million in Stripe. In exchange, Stripe promised to create more than 1,000 jobs in Ireland.[10]
Assets[edit]
According to the NTMA Annual Report for 2019, the ISIF has assets valued at 15.1 billion euros.[11] From January 2015 to 2021, the ISIF returned an average annual return of 3.1%.[12][13]
| Company | Stake |
|---|---|
| Allied Irish Banks (AIB) | 71%[14] |
| Permanent TSB (PTSB) | 75%[14] |
| Bank of Ireland | 14%[14] |
| Greencoat Renewables | 4.8%[14] |
References[edit]
- ↑ O'Donovan, Donal (25 August 2020). "Strategic Investment Fund seeks new chief as O'Callaghan moves on". Irish Independent. Archived from the original on 5 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ "New Ireland Strategic Investment Fund open for business". Raidió Teilifís Éireann (RTE). 5 March 2014. Archived from the original on 6 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ Mulligan, John (12 September 2020). "Government sitting on €240m from 2015 Aer Lingus sale windfall". Irish Independent. Archived from the original on 5 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ "Ireland Strategic Investment Fund sells off shares in tobacco companies". Raidió Teilifís Éireann (RTE). 21 December 2016. Archived from the original on 6 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ Carrington, Damian (12 July 2018). "Ireland becomes world's first country to divest from fossil fuels". The Guardian. Archived from the original on 6 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ Chestney, Nina (12 July 2018). "Ireland commits to divesting public funds from fossil fuel companies". Reuters. Archived from the original on 6 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ "New house-building entity to boost construction". Raidió Teilifís Éireann (RTE). 10 October 2017. Archived from the original on 5 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ Burke-Kennedy, Eoin (3 May 2020). "Broad support for Government's €6.5bn package for businesses". The Irish Times. Archived from the original on 29 May 2020. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ Ihle, Jon (22 December 2020). "State investment fund picks NTMA insider as new head". Irish Independent. Archived from the original on 6 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ Taylor, Charlie (15 March 2021). "What is Stripe and why is the State investing $50 million in it?". The Irish Times. Archived from the original on 15 March 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ NTMA Annual Report 2019 (ISIF Extract) (PDF) (Report). National Treasury Management Agency. 15 June 2020. Archived from the original (PDF) on 5 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ Shortt, Robert (8 February 2021). "ISIF delivered a return of 6.2% last year, adding €500m in value". Raidió Teilifís Éireann (RTE). Archived from the original on 6 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ "Aer Lingus among Irish sovereign wealth fund's COVID-19 investments". Reuters. 8 February 2021. Archived from the original on 5 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ 14.0 14.1 14.2 14.3 Ihle, Jon; Donnelly, Ellie (22 April 2021). "Not just banks: State now a big player on stock exchange". Irish Independent. Archived from the original on 5 May 2021. Retrieved 5 May 2021. Unknown parameter
|url-status=ignored (help)
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