Written answers
Wednesday, 16 December 2015
Department of Finance
Ireland Strategic Investment Fund Investments
Peadar Tóibín (Meath West, Sinn Fein)
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67. To ask the Minister for Finance the projects in which the Ireland Strategic Investment Fund has invested, in tabular form. [45588/15]
Michael Noonan (Limerick City, Fine Gael)
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The Ireland Strategic Investment Fund (ISIF) has provided the following table which provides preliminary and unaudited data as at 30 September 2015. The summary data are published on a quarterly basis on ISIF's website and a detailed listing of investments is published annually in the NTMA's Annual Report.
| 30/09/2015 | Total ISIF Commitment (€m) | 3 Party Committed capital in Ireland (€m) | Total Project Size in Ireland (€m) | Multiple of Total Project Size in Ireland to Total ISIF Commitment |
|---|---|---|---|---|
| Water | 300 | 600 | 900 | 3.0x |
| Infrastructure | 250 | 155 | 405 | 1.6x |
| Energy | 44 | 456 | 500 | 11.4x |
| SMEs | 325 | 417 | 742 | 2.3x |
| Food & Agriculture | 30 | 187 | 217 | 7.2x |
| Real Estate Based Businesses | 400 | 370 | 770 | 1.9x |
| Venture | 403 | 525 | 642 | 1.6x |
| Direct Private Equity | 56 | 291 | 347 | 6.2x |
| Committed to Date | 1,808 | 3,002 | 4,523 | 2.5x |
In addition, the ISIF announced 2 further commitments during November 2015:
1. The ISIF and institutional clients of US-based Quadrant Real Estate Advisors LLC have committed up to €100 million for financing high-quality office development and construction projects in Ireland. Under the investment mandate agreed with the ISIF, Quadrant will manage the provision of "senior stretch" loans, ideally suited to Grade A office development projects in strong markets which have planning permission but which may not yet have letting or sale agreements in place. The ISIF will invest up to €50 million alongside up to €50 million of capital from Quadrant's wider institutional client base.
2. Swrve, a global leader in mobile marketing engagement, announced in early November that it closed a $30 million funding and acquisition round led by the ISIF and US-based Evolution Media Partners. The company further announced that the round will enable it to create 45 jobs at its Dublin base.
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