Isif, which is part of the National Treasury Management Agency, said the €229m investment will be split between a mix of owner-occupiers, renters and students, as well as those who require social housing.
This includes €100m committed to investment firm Avenue Capital Group, with €75m of this going to a fund focused on construction of new homes in Ireland.
A further €75m will be invested in the Ardstone Residential Income Fund, an Irish-based fund focused on mid-market rental and social sectors in the greater Dublin area.
Isif has also committed €29m to developer Summix. This will be targeted at growing third-party capital to scale the firm’s activities in Ireland.
The recently announced Irish Homebuilding Equity Fund will also receive €25m from Isif.
This new fund seeks to provide housebuilders with equity finance in order to unlock finance for construction of sites that already have planning permission or those that are zoned for residential use.
These new investments now bring the total invested by the fund in housing to more than €1.5bn to date.
The fund added that the new investments could help to attract further third party co-investment.
Isif’s ongoing investment programme is targeting the delivery of 25,000 new homes by 2030. It aims to achieve this through a range of equity and debt investments.
Around 14,200 homes had been delivered by the end of last year, the fund reported.
Isif director Nick Ashmore said that the four investments “will help to deliver more homes and help to alleviate the housing supply shortage in Ireland”.
“The mix of investment types also reflects the diverse forms of capital required in today’s housing market and the different investment opportunities they represent, from senior debt to equity for sites going through the planning process and equity for smaller developers,” he said.
Mr Ashmore added that Isif is on track to deliver its target of 25,000 homes by 2030.
“By doing this Isif continues to demonstrate its value through catalysing third party investment in support of the delivery of housing in Ireland,” Finance Minister Jack Chambers said in a statement.
