Dáil Éireann Debate, Thursday - 16 July 2015
123. Deputy Dara Calleary asked the Minister for Finance the amount of lending undertaken by the National Pensions Reserve Fund small and medium-sized enterprises credit fund to date; the number of projects involved; the number of jobs supported; the percentage of applications approved; the way the operation of the fund compares to the initial targets set for it; the future plans for the fund; and if he will make a statement on the matter. [29828/15]
View answer124. Deputy Dara Calleary asked the Minister for Finance the amount of investment undertaken by the National Pensions Reserve Fund small and medium-sized enterprises equity fund to date; the number of projects involved; the number of jobs supported; the percentage of applications approved; the way the operation of the fund compares to the initial targets set for it; the future plans for the fund; and if he will make a statement on the matter. [29829/15]
View answerI propose to take Questions Nos. 123 and 124 together.
Due to commercial sensitivities the Ireland Strategic Investment Fund (ISIF) does not report on economic impact at individual transaction level, but instead at the aggregate portfolio level.
The €450 million BlueBay SME Credit Fund has completed 11 loan transactions totalling approximately €190 million as at 30 June 2015.
The €292 million Carlyle Cardinal Ireland (CCI) SME Equity Fund, has concluded 4 transactions as at 30 June 2015, with investments completed to date in Lily O'Briens, GSLS, Carroll Cuisine and Payzone.
The ISIF recently published its first Baseline Economic Impact Report. Key figures show that as at 31 December 2014:
- ISIF had committed €1.4 billion to investments in Ireland, with €726 million already drawn down.
- 79 Irish companies and projects with a combined annual turnover of €472 million benefit from ISIF investment.
- Approximately 8,362 jobs are supported directly and indirectly by ISIF investments.
- At 31 December 2014, the funds ISIF invested in had significant engagement throughout the Irish market - with 3,573 engagements and 99 completed investments since inception. The BlueBay SME Credit Fund does not operate an application process, but its activity is included in these figures.
Further information is available online at: http://www.ntma.ie/business-areas/ireland-strategic-investment-fund/.
The ISIF has advised that the BlueBay SME Credit Fund and the CCI SME Equity Fund continue to be active in the Irish lending market, have a strong transaction pipeline and are focused on deployment of the remainder of their capital pool.
