ISIF Commits up to €2 Billion to Pandemic Stabilisation and Recovery Fund

Posted on 05/02/2020


Ireland’s Minister for Finance and Public Expenditure & Reform, Paschal Donohoe TD, directed the Ireland Strategic Investment Fund (ISIF) to assist in the Irish economy to support companies impacted by the Wuhan coronavirus pandemic (COVID-19). ISIF will commit up to €2 billion to fund called the Pandemic Stabilisation and Recovery Fund (PSRF) to support medium and large enterprises in Ireland affected by the viral outbreak. The investment by ISIF will be made available through a sub-portfolio within ISIF. The PSRF will focus on investment in large and medium enterprises employing more than 250 employees or with annual turnover in excess of €50 million. ISIF may consider investing in enterprises below these levels if they are assessed to be of substantial scale and of significant importance at national or regional level. These businesses must have been commercially viable before the outbreak, contribute to the Irish economy, and have the chance to become viable again.

The Pandemic Stabilisation and Recovery Fund will have the flexibility to invest across the capital structure, investing in a range of instruments from equity to debt and hybrid instruments. This will enable businesses to access the capital they need in the most appropriate form that best suits their individual circumstances.

The investment approach ISIF is taking would be complementary to other Irish government measures such as the Strategic Banking Corporation of Ireland and Enterprise Ireland.

At the end of April 2020, ISIF had €10.8 billion in assets, of which €7.9 billion remains in the discretionary portfolio.

ISIF team reachout: psrf@isif.ie