The Ireland Strategic Investment Fund (ISIF) said today it has already exceeded its original target of funding 25,000 homes by 2030, significantly ahead of schedule.
Building on this progress, ISIF has now set a new target of funding an additional 25,000 homes by 2030, bringing the total to 50,000.
The Ireland Strategic Investment Fund, part of the National Treasury Management Agency (NTMA), also today announced four new housing investment commitments totalling €250m to accelerate the delivery of more new homes across Ireland.
The four new investments build on ISIF’s existing housing investment programme. Commitments under this programme totalled €2.5 billion at the end of 2025, it added.
The four investments include a €100m commitment to the Avenue Ireland Opportunities Fund, a dedicated fund focused on providing senior secured construction finance loans to Irish homebuilders. The loans will be originated by Castlehaven Finance and the fund is managed by Avenue Capital Group.
A €25m has been committed to Avenue Europe Fund VI, Avenue Europe’s real estate credit fund that invests in residential construction and investment property loans across Northern Europe that are sourced by Avenue Europe’s exclusive origination platforms.
They also include a €100m investment in Cardinal Real Estate Finance Fund III, a real estate credit fund managed by Cardinal Capital, an Irish provider of alternative capital. This fund will provide specialist forms of debt, such as mezzanine, whole-loan and unitranche debt, to Irish real estate developers and investors, primarily for residential development.
Finally it also announced a new €24m follow-on investment in the Irish Homebuilding Equity Fund to support the pool of equity risk capital available for Irish homebuilding projects. This fund, managed by Pearl Capital Managers Limited, provides equity to homebuilding firms that helps them to unlock senior debt financing from lenders.
Rebekah Brady, Interim Director of ISIF, said today’s investments are a statement of the extent to which ISIF wants to support the delivery of much-needed homes at scale across Ireland.
“Having reached and exceeded our original target of supporting 25,000 homes ahead of schedule, we are now setting a new ambition to further support housing delivery nationwide,” Ms Brady said.
“The four new commitments announced today demonstrate ISIF’s continued commitment to backing strong Irish and European partners; to unlocking proven financing structures that can make a real difference to homebuilders across the country; and to increasing the supply of new homes for the people who need them,” she added.
Tánaiste and Minister for Finance Simon Harris said the ISIF continues to make a significant contribution to increasing housing supply and today’s announcement shows that impact clearly.
“It has already exceeded its original target of 25,000 new homes – well ahead of schedule – and these four new investments will help deliver even more much-needed housing across the country,” he added.
Minister for Housing, Local Government and Heritage James Browne said that secure finance is the critical starting point in housing delivery providing the certainty needed to move projects from plans to construction.
“Given the cost it takes to bring new homes forward, access to secure, reliable funding is essential to ensuring that developments can progress and ultimately deliver much-needed homes for people to grow up and grow old in,” Mr Brown said.
