An Irish state-owned investment fund has a €1.3 million shareholding in Israel Defences Forces-linked Palantir Technologies, according to a report published in June this year.
The Irish Strategic Investment Fund also owns €1.1 million of shares in a controversial Israeli tech firm that does business in Russia and is linked to a notorious IDF spy unit.
The Social Democrats suspended newly elected TD Eoin Hayes earlier this week after his repeated false statements about the sale of his Palantir shares.
‘A responsible investor’
The National Treasury Management Agency (NTMA) in June this year published its 2023 annual report, which includes details of the state-owned Irish Strategic Investment Fund’s (ISIF) investments.
ISIF holds 19,145 shares in Palantir Technologies. Though the NTMA valued the shares at €300,000 on 31 December, 2023, they are worth €1.33 million today.
The IDF has used Palantir-supplied technology to target civilians in Gaza after a deal with the US-based company announced in January this year.
ISIF also holds shares worth more than €1.1 million in the Israel-based Check Point Software Technologies, which partners with Israeli arms manufacturers and is run by former IDF intelligence officers. The firm has recently faced demands to stop doing business in Russia.
Ex-finance minister Michael McGrath confirmed earlier this year that ISIF would divest from six Israeli companies with links to the Occupied Palestinian Territories.
ISIF “endeavours to be a responsible investor”, according to a statement on its website.
When asked about ISIF’s shares in Palantir and Check Point, a spokesperson said, “ISIF publishes details of individual investments in the NTMA annual report each year. The most recent annual report is for the year ended December 2023.
“ISIF’s holdings at the end of December 2024 will be disclosed in the 2024 annual report, which will be published next year.”
