Ireland Strategic Investment Fund, Dublin, committed an undisclosed amount to Waterland Private Equity Fund IX, a spokesman confirmed.
A spokesman confirmed that it was the first commitment made to the Waterland Private Equity Investments fund by the €9 billion ($9.8 billion) sovereign wealth fund.
Nick Ashmore, director at Ireland Strategic Investment Fund, said in a news release: "Our partnership with Waterland is a further step in providing Irish businesses with attractive new ways to source the capital they need to grow and with valuable access to Waterland's Irish and international expertise and network."
"This investment is another example of ISIF's mandate of investing for a commercial return while supporting economic activity and employment in Ireland and we're delighted to team up with Waterland," he added.
Waterland Private Equity Fund IX closed fundraising at €3.5 billion on Jan. 26 and will make investments in medium-sized companies in Europe, particularly in Ireland.