Dáil Éireann Debate, Tuesday - 21 March 2023
330. Deputy Ged Nash asked the Minister for Finance if he will provide information on the status of the Ireland Strategic Investment Fund investments in a company (details supplied); if he is concerned at the exposure of these investments given the parent company has been taken over by the Federal Deposit Insurance Corporation of California; and if he will make a statement on the matter. [13412/23]
View answerIn respect of the Ireland Strategic Investment Fund’s (ISIF) investment relationship with SVB Financial Group the NTMA has advised me that as of end February 2023, ISIF has approximately $100 million invested in 5 investment funds managed by SVB Capital, which is a subsidiary of the SVB Financial Group. The distributions received by ISIF from these investments since 2012 exceed the amount invested. These investments have been structured in a manner that legally ring-fences them from the rest of the SVB Financial Group. This means that ISIF does not expect any material impact on these investments arising from recent developments.
