Ireland Strategic Investment Fund - Sligo Park Hotel Friday, 3rd May 2019
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Ireland Strategic Investment Fund Sligo Park Hotel Friday, 3rd May 2019
Donal Murphy Enabling Investments Senior Investment Director E: donal.murphy@ntma.ie
ISIF Mandate
Thinking in
decades & making
a difference
Commercial Economic Impact
Return Sustainable progress
Exceed investment under the Priority
return benchmark Themes
Market Differentiators
• Long term timeframe
• Flexible, Innovative & Creative
• Trusted Sovereign Partner to businesses and co-investors
ISIF’s Investment Strategy – Focused on Priority Themes
Invest on a commercial basis to support economic activity and
employment in Ireland
Balanced Growth
Dublin Regions
Regional Housing Indigenous Climate Change Brexit
€500m - €750m of commercial 25,000 homes by 2025 Support and scale >100 Investments to deliver Commercial investment to
investment into the Regions businesses over 5 years substantial carbon reduction enable long term product and
market diversification
Typical ISIF investments are €10 million +
Regional Development
€500m-€750m regional, commercial investment programme
ISIF’s Regional Strategy
Enabling the Regions
Regional Businesses
Regional Development
€500m-€750m regional, commercial investment programme
ISIF’s Regional Strategy
P ISIF’s strategy will focus on delivering investments which will
Enabling the Regions
enable the regions ensuring people live and work in the right
places
P Aligned with Project Ireland 2040
• 3 regions
• 4 cities
• Key regional centres and key towns
P Enabling via
• urban regeneration
• housing
• commercial real estate
• connectivity infrastructure
Partnerships will be vital in the regions . ISIF will engage with regional bodies and authorities and have regard to existing
regional strategies.
Port of Cork
▪ ISIF is supporting the Port of Cork’s relocation from
constrained Cork City locations to a redeveloped site
in Ringaskiddy, and an upgrade of its operating
facilities.
▪ Port of Cork is the primary port for the Munster
region and particularly critical to the Food &
Agriculture and Pharmaceutical clusters located in
the Cork region.
▪ The relocation will facilitate the transformational
€18m redevelopment of Tivoli and the docklands area.
▪ ISIF provided a €18m junior debt facility alongside a
€60m senior debt package from AIB and the
European Investment Bank.
Future potential:
Substantial urban development opportunity
in the Port’s vacated Cork City sites, on a
scale to support Cork’s long-term
development
Shannon Airport Authority
▪ Shannon Airport is based on the west coast of
Ireland, providing world class aviation
facilities.
▪ Ireland is one of the world’s most open
economies, making airport connectivity
additionally important.
▪ ISIF committed a €14.3m long term debt
facility to support the upgrade of the existing
runway, a core element of Shannon Airport’s
capital investment programme.
€14m
Future potential:
Potential for further long term
investment by ISIF to support
SAA’s plans for Shannon Airport
and other regional activities
Cherrywood
▪ Provision of a senior secured debt facility to Hines
Ireland to fund construction of essential enabling
infrastructure at the Cherrywood Strategic
Development Zone in South Dublin.
▪ Direct senior loan commitment from ISIF to Hines
Ireland. The ISIF facility directly facilitates
supporting infrastructure such as roads, waste,
utilities, which will unlock the planned development
of a major strategic site.
€52m ▪ Hines Ireland, as the largest landowner at
Cherrywood, will use the ISIF facility to lead
infrastructural development in the SDZ, where it
plans to develop approx. 4,000 units.
Future potential:
Joint venture with Cork County
Council (“HISCO”) to provide
Design-Build-Finance service to
landowners / developers for the
provision of onsite enabling
infrastructure on larger scale
housing sites
Kilkenny – Abbey Quarter Development
▪ In 2015 ISIF entered into a joint venture partnership
with Kilkenny County Council to develop the former
Smithwicks Brewery site in Kilkenny city.
▪ This opportunity represents a major economic
development initiative for Kilkenny providing
development critical for the development of the city.
▪ It will attract FDI, commercial investment and jobs to
the area.
▪ The involvement of ISIF in this investment as a patient
€1.6m source of long-term capital is crucial to the project going
ahead.
▪ This project will provide a basis for future urban,
regional redevelopment projects.
Future potential:
Follow on capital from ISIF to support multiple
stages of site developmentFergal McAleavey Indigenous Businesses Senior Investment Director
Indigenous Businesses
Support scaling of 100 indigenous businesses
ISIF’s Indigenous Businesses Strategy
P ISIF will invest €1bn, both directly and via funds, in scaling up to 100 Competing internationally
indigenous businesses over 5 years
ISIF will invest directly for
larger amounts
(typically medium scale
P ISIF will utilise platforms (equity & alternative debt providers) to access growth companies)
smaller scale investments.
&
use platforms to maximise
P ISIF’s venture and early stage investments will be aimed at developing a
impact for SMEs based in
candidate pool of companies into which scaling capital can be invested. Ireland
(typically smaller scale)
P ISIF will increase direct investment in indigenous businesses (debt & equity)
and will have a particular direct equity focus to counter lack of scaling of
indigenous businesses
P ISIF will invest across a broad range of sectors – Food & Agriculture,
Technology and Health in particular.ISIF Making a difference Direct Investments
Green Isle Foods
▪ Equity investment to back the acquisition of the Green Isle and Donegal Catch food manufacturing
businesses by a group led by the former Chief Executive of Largo Foods (Tayto)
▪ The acquisition supports 106 jobs at a manufacturing plant in Sligo and offices in Kildare.
▪ ISIF investment will facilitate plans to grow revenues and diversify the business base, targeting
both the domestic and export markets, while building on existing strong market positions held by
both Green Isle and Donegal Catch in Ireland.
▪ Long term ownership philosophy with the potential for follow-in investment to fund expansionary
capital investment.
Commercial Return Economic Impact
▪ Compelling growth strategy centred on the ▪ Opportunity to grow a leading indigenous Irish food
€7m revitalisation of two of Ireland’s best-known food manufacturing business.
brands and investment in new product development
and operational enhancements.
March 2019
▪ Strong co-investment partners with exceptional track ▪ Aligned with Bord Iascaigh Mhara’s broader strategy
records of value creation in the Irish food industry, to grow the Irish seafood industry.
including deep networks in the retail sector
▪ Investing in a food category benefiting from ▪ Reflects ISIF’s commitment to investing in regional
favourable macro trends. development and supporting Irish businessesAMCS Group
▪ ISIF first co-invested alongside Insight Venture Partners (NY) in a €45m Series
C round, July 2015 and in 2018 ISIF made a follow on commitment to the company as part
of 100m round
▪ AMCS is a leading international supplier of smart resource ERP software and vehicle
technology solutions for the waste, recycling and resource industry
▪ AMCS software manages in excess of €4 billion revenue, 14,000 vehicles and 3,000+ sites
on behalf of a blue chip customer base in Europe, North America and Australasia.
Commercial Return Economic Impact
▪ AMCS experiencing an exceptional growth ▪ Growth in exports, employment and R&D
€46m trajectory as industry increases
operational sophistication
investment in software from a regional Irish
HQ
▪ Strong co-investment partner with specific ▪ Funding will be used to accelerate expansion
software expertise of the business internationally
▪ Strong potential for company to leverage ▪ Continue to cultivate world class technology
resource and logistics software into development and commercialisation in high
complementary industry verticals economic impact Irish software sectorBGF
▪ BGF is a UK based source of long-term patient capital for small and medium-sized companies in
Ireland looking to scale up their operations
▪ BGF typically invest between €2m-€10m in return for a minority stake in Irish SME’s
▪ ISIF’s €125m commitment is in line with ISIF strategy on scaling up indigenous companies
▪ BGF is also backed by AIB, BoI, Ulster Bank and BGF shareholders
€125m
Commercial Return Economic Impact
▪ Strong expertise in UK management team with strong ▪ SME’s are labour intensive and an increase in jobs is
alignment of interest highly likely
▪ Structurally attractive sector suited to patient ▪ ISIF facility unlocks growth potential of SME’s who
investment approach in line with ISIF strategy might otherwise fail to secure traditional funding.
▪ Strong co-investment partners ▪ Supports SBCI, Enterprise Ireland and broader
government strategy in this areaOur Funds & Platforms
Outline criteria
• Capital used to grow/scale business – particularly export focussed
• Seeking commercial and economic returns – sector agnostic
• Long term patient capital – no time constraint or forced exit
• Always minority investor – investment usually equity
• Seek appropriate Board and governance structures
• Typical minimum investment of €10m (preference if investing alongside other
investments)
• For investment opportunities less than €10m – investment via ISIF back funds
Seeking to provide capital to the next generation of large indigenous businesses
to allow for execution of expansion plansContacts
Donal Murphy Fergal McAleavey
Enabling Investments Indigenous Businesses
Senior Investment Director Senior Investment Director
T +353 1 238 4934 T +353 1 238 4432
E donal.murphy@ntma.ie E fergal.mcaleavey@ntma.ie
info@isif.ie
Colin O’Reilly Jefferson Vieira Meabh Mc Donnell
Senior Investment Manager Senior Investment Analyst Business Development Manager
ISIF ISIF www.isif.ie
ISIF
T +353 1 238 4066 T +353 1 238 4308 T +353 1 238 4951
E colin.oreilly@ntma.ie E Jefferson.Vieira@ntma.ie E meabh.mcdonnell@ntma.ie
@ntma_ie
Joe Crockett Martin Whelan LinkedIn
Consultant Head of Public Affairs & Communications
ISIF NTMA
E joe.x.crockett@ntma.ie E martin.w.Whelan@ntma.ieYou can also read
