ISIF H1 2021 Update including FY 2020 Economic Impact Report (Ireland Strategic Investment Fund (ISIF))

Summary

• The ISIF portfolio returned +5.2% in H1 2021, with over €450m in investment gains and over €2.2bn since inception.p.4
• The Irish Portfolio has added €1.4 billion of value since inception and the Global Portfolio over €800 million.p.4
• ISIF made 10 investments in H1 2021, bringing total commitments to €5.2 billion across 151 investments.p.4
• ISIF investment has catalysed a further €8.9 billion of co-investment commitments, a multiple of 1.7x the amount invested by ISIF.p.4
• Over €200m was committed during H1 2021.p.7
• FY 2020 data shows 42,250 jobs supported, Gross Value Add of €1.134 billion and turnover of €3.3 billion.p.11
• The Irish Portfolio returned +7.0% in H1 2021 and +9.1% p.a. since inception.p.6

Key insights

1. The Global Portfolio returned +4.0% in H1 2021 and +2.2% p.a. since inception.p.6
2. The ISIF Portfolio has returned +4.1% p.a. since inception.p.6
3. In May 2020 the Minister for Finance announced a €2 billion Pandemic Stabilisation and Recovery Fund within ISIF.p.10
4. Total jobs supported rose by 3,283 year on year, driven largely by investments made under the PSRF strategy mandate.p.11
5. Gross Value Add fell by €428 million year on year, largely due to PSRF stabilisation investments under COVID-19 pressure.p.11
6. Exports declined from 28% to 25% of turnover, with exports of €824 million.p.12
7. The wage bill was €1.12 billion, down €84 million year on year.p.12
8. Employment supported by ISIF capital was split 53% in Dublin and 47% outside Dublin.p.12