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]
Amharc ar fhreagraIn 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.
