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Capital Markets

Ireland’s sovereign fund takes a galvanizing approach to Covid

By Chris Wright
September 10, 2020
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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
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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.

One reason for this was because of an evolution ISIF has already gone through since its foundation in 2014 and, in fact, before that.

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Capital Markets Capital MarketsCoronavirusIrelandsovereign wealth
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Chris Wright
Chris Wright is Asia editor. He covers the Asia Pacific region and is based in Singapore. He has previously been Middle East editor of Euromoney, editor of Asiamoney, investment editor of the Australian Financial Review and a correspondent on emerging markets and sovereign wealth for numerous publications worldwide. He has also written two books.
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