Mairéad Farrell (Galway West, Sinn Fein)
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137. To ask the Minister for Finance further to Parliamentary Questions Nos. 104 of 7 February and 220 of 20 February 2024, if he will identify those Irish-registered companies involved directly or indirectly in purpose-built student accommodation, for which the ISIF or a subsidiary thereof holds an equity stake; and if he will make a statement on the matter. [9334/24]

Michael McGrath (Cork South Central, Fianna Fail)
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The NTMA has informed me that the Ireland Strategic Investment Fund (ISIF) is a commercial investor in a range of businesses, platforms and projects which support the delivery of new homes in Ireland.

These investments are in private market commercial operations, typically featuring a significant quantum of third-party investment that deliver a range of housing tenures including purpose-built student accommodation (PBSA).

These platforms include the partnership with Harrison Street Europe that was announced in September 2023 to fund regional new build PBSA, ISIF’s investment with Activate Capital which provides lending to the homebuilding sector and has funded a number of new PBSA developments and a long-term funding commitment to Dublin City University to deliver infrastructural improvements including on campus student accommodation.

A summary of these investments by ISIF is shown in the table below.

With specific reference to its investments in Harrison Street, ISIF is an investor in pan-European funds alongside global investors. These funds invest in a series of projects, the underlying structure of which is commercially sensitive and not immediately available to ISIF, therefore ISIF Is not in a position to break-out the format or structure of these investments on a more granular basis.