10th March 2026
The Ireland Strategic Investment Fund (“ISIF”) has committed €140 million as a cornerstone investor in TirNua’s inaugural investment vehicle. Additional commitments have also been secured from Irish Life Assurance plc (“Irish Life”) and The Canada Life Assurance Company (“Canada Life”), bringing total capital raised to date to €340 million
- The fund’s portfolio investments will seek to support Ireland’s transition to a lower carbon economy, in sectors including renewable power, energy efficiency, renewable fuels, clean transportation, and other infrastructure relating to the energy transition
- TirNua Capital Partners (“TirNua”) is a Dublin-based joint venture between Keyridge Asset Management, trading as Irish Life Investment Managers (ILIM) and Northleaf Capital Partners.
TirNua today announced that the Ireland Strategic Investment Fund (ISIF), part of the National Treasury Management Agency (NTMA), has committed €140 million as a cornerstone investor in its major new energy transition focused infrastructure fund.
TirNua is an independent, employee-managed private markets investment manager formed between ILIM and Northleaf Capital Partners, a global private markets investment firm that specialises in infrastructure, private equity and private credit.
With €340 million of initial commitments, the first vehicle under the TirNua platform will primarily invest in infrastructure assets that TirNua believes will support energy transition efforts in Ireland, with at least 60% of the Fund’s investments expected to support Irish-based businesses and infrastructure projects. The Fund’s investment focus will include renewable power, energy efficiency, renewable fuels, and clean transportation.
TirNua has already established an Ireland-based investment team led by CEO, David O’Brien, and is actively sourcing and evaluating investment opportunities. The Fund is expected to be the first in a series of funds and represents a significant new and long-term source of private investment in the Irish market.
ISIF has led the investment round in the Fund to accelerate its €2 billion climate action investment programme and to continue to act as a catalyst for leveraging additional co-investment from other investors into Irish businesses and projects.
“This commitment to TirNua’s fund is a strong example of how ISIF’s climate investment programme is supporting the Government’s Climate Action Plan – backing both new and existing fund managers, platforms and businesses to enable infrastructure to support Ireland’s energy transition.
TirNua is a pioneering Irish platform which will seek to catalyse investment from pension funds and other investors into the energy transition in Ireland, driven by the ILIM partnership.
We look forward to working with TirNua in the years ahead.”
— Rebekah Brady, Interim Director of ISIF
“We are delighted to be first to market in offering Irish Life customers and pension scheme members access to this innovative investment opportunity. Through TirNua, our customers can seek strong long‐term returns whilst directing their pension savings towards assets that TirNua believes have the potential to support Ireland’s energy transition. We look forward to enabling Irish pension savers, including our Empower Master Trust, to contribute to, and benefit from, the energy transition in the decades ahead.”
— Declan Bolger, CEO of Irish Life
“As a first-of-its-kind private markets platform focused on Ireland’s energy transition, TirNua represents an exciting new way for investors to channel long-term capital into the projects that have the potential to positively shape Ireland’s future. We are especially proud to have ISIF as a cornerstone partner on this journey”
— David O’Brien, TirNua CEO
ENDS
Gavin McLoughlin
Drury
T: +353 1 260 5000
M: +353 86 035 3749
gavin.mcloughlin@drury.ie
Important Information
This material is intended as a general review of investment market conditions for information purposes only. Any comments on specific stocks are intended as an objective, independent view in relation to that stock generally. This material does not constitute an offer or recommendation to buy or sell any investment and has not been prepared based on the financial needs or objectives of any particular person. You should seek personal investment advice as to the suitability of any investment decision or strategy to your own needs and circumstances.
This material is intended for the use of institutional and other professional investors.
This document contains sustainability related aspirations which are based on TirNua Capital Partners’ (the “Fund”) current expectations and beliefs concerning future developments and their potential effects on investors. Such predictions, projections and beliefs are based on current expectations and assumptions and, as a result, are subject to uncertainties. They are not intended to serve, and must not be relied on, as a guarantee, an assurance, a prediction or a definitive statement of fact. Actual events and circumstances are difficult or impossible to predict and are beyond our control. The Fund can give no assurance that it will be able to achieve the sustainability related aspirations contained in this document.