Irish wealth fund set to invest further in pandemic-hit sectors
Reuters
Published Jun 21, 2021 11:14AM ET
Updated Jun 21, 2021 11:45AM ET
DUBLIN (Reuters) - Ireland's sovereign wealth fund is involved in discussions with a number companies in the hardest hit sectors such as travel in need of further investment to help them survive the COVID-19 pandemic, the head of the country's debt agency said.
The Ireland Strategic Investment Fund (ISIF), which is overseen by the debt office, was mandated a year ago to invest up to 2 billion euros ($2.4 billion) directly in larger firms hit by the pandemic via equity, debt and hybrid instruments.
ISIF made 400 million euros of such investments last year, including a 150 million euro loan to IAG (LON:ICAG)'s Irish airline Aer Lingus. It said on Monday it had approved another 400 million euros so far this year with discussions ongoing on further potential investments.
($1 = 0.8393 euros)
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Written By: Reuters
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