€6.8bn Ireland Fund could double in value: managers

The new €6.8bn Ireland Strategic Investment Fund could effectively double in value with the addition of third party capital investment, its managers said yesterday.

The fund, which was formally launched yesterday, will be managed by the NTMA and will act as a replacement to the National Pension Reserve Fund (NPRF), and change from being a long-term pension fund to an investment fund focused on domestic investment.

NPRF director Eugene O’Callaghan said the fund was now “open for business” and actively looking for investment opportunities. He noted that around €1.3bn had already been assigned to projects, with additional third party capital of over €1.5bn already committed.