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Ireland’s sovereign fund takes a galvanizing approach to Covid

Different sovereign funds have approached Covid in different ways – drawdowns, contrarian investments, flights to safety and backstopping local raisings – but Ireland’s has perhaps been the most clearly defined.

Eugene O'Callaghan, ISIF_960.jpg
Eugene O’Callaghan, Ireland Strategic Investment Fund

In May, the Ireland Strategic Investment Fund (ISIF) created a sub-portfolio worth €2 billion – the Pandemic Stabilization and Recovery Fund. While not legally a separate fund, it was established within the ISIF under existing legislation, it is still the only instance of a sovereign wealth vehicle creating a separate pool mandated with Covid recovery.


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