Dara Calleary (Mayo, Fianna Fail)
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243. To ask the Minister for Finance the total amount of lending undertaken by the NPRF-SME credit fund to date; the number of projects involved; the total number of jobs supported; the percentage of applications approved; the way in which the operation of the fund compares to the initial targets set for it; the future plans for the fund; and if he will make a statement on the matter. [34695/15]

Dara Calleary (Mayo, Fianna Fail)
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244. To ask the Minister for Finance the total amount of investment undertaken by the National Pensions Reserve Fund-small and medium Enterprise equity fund to date; the number of projects involved; the total number of jobs supported; the percentage of applications approved; the way the operation of the fund compares to the initial targets set for it; the future plans for the fund; and if he will make a statement on the matter. [34696/15]

Dara Calleary (Mayo, Fianna Fail)
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245. To ask the Minister for Finance the total amount of investment undertaken by the National Pensions Reserve Fund turnaround fund to date; the number of projects involved; the total number of jobs supported; the percentage of applications approved; the way the operation of the fund compares to the initial targets set for it; the future plans for the fund; and if he will make a statement on the matter. [34697/15]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 243 to 245, inclusive, together.

The Ireland Strategic Investment Fund (ISIF) have advised that the €450 million BlueBay SME Credit Fund has completed 13 loan transactions totalling approximately €201 million as at 30 September 2015.

The €292 million Carlyle Cardinal Ireland (CCI) SME Equity Fund, has completed 4 transactions as at 30 September 2015, with investments completed to date in Lily O'Briens, GSLS, Carroll Cuisine and Payzone.

Due to commercial sensitivities the ISIF does not report on economic impact at individual transaction level, but instead at the aggregate portfolio level.

The ISIF has published its first Baseline Economic Impact Report. Key figures show that as at 31 December 2014:

- ISIF had committed €1.4 billion to investments in Ireland, with €726 million already drawn down.

- 79 Irish companies and projects with a combined annual turnover of €472 million are benefitting from ISIF investment

- Approximately 8,362 jobs are supported directly and indirectly by ISIF investments.

- At 31 December 2014, the funds ISIF invested in had significant engagement throughout the Irish market - with 3,573 engagements and 99 completed investments since inception.  There is no application process operated for either the BlueBay SME Credit Fund or the CCI SME Equity Fund, but their activity is included in these figures.

Further information is available online at: 

The ISIF is currently surveying underlying investees and plan to publish the its first half 2015 Economic Impact Report before the end of Quarter 4 2015.

The ISIF has advised that the BlueBay SME Credit Fund and the CCI SME Equity Fund continue to be active in the Irish lending and investment markets, have a strong transaction pipeline and are focused on deployment of the remainder of their capital pools.

Better Capital Turnaround Fund

ISIF have advised that it was agreed not to extend the investment period of the Better Capital Turnaround Fund following its expiry in December 2014. In the context of improving market conditions, financial institutions and business owners experienced a much reduced need for restructuring capital investment into distressed businesses as compared with initial expectations. The Fund had been set up with a lifespan of two years, with the intention of investing in distressed firms but positive changes in the economy meant it did not complete any investments.