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Irish SPV Report Q3-2019

Irish SPV Report Q3-2019

The Irish SPV sector saw continued growth in the third quarter of 2019, as vehicle numbers grew by 50 and assets rose by €56bn. This was despite a market backdrop that saw volatility in equity prices and an increase in geopolitical risk.

The asset growth was seen predominately in the bank-linked SPVs category, with CLOs also showing a healthy increase.

Historical data from the Central Bank of Ireland was revised upwards this quarter, adding 63 vehicles which had not previously reported.

Our analysis of the sector shows that the current employment in the sector is 2,866, and total fees of €338m are paid annually to domestic firms operating in the Irish structured finance market.

Ireland once again came top of the European league table in terms of FVC assets with a 24.0% share, up from 23.7% in Q2-2019.

UK and US-based entities continued to sponsor a majority of Irish SPVs as measured by assets, accounting for 29.3% and 23.8% respectively at the end of Q3-2019.

For more regular insights, Download the Latest Irish SPV Report.