Irish SPV Sector Reaches Record Highs in Q4-2024

The Irish Special Purpose Vehicle (“SPV”) sector has reached unprecedented heights in Q4-2024, setting new records in both the number of vehicles and total assets. According to the latest report from Atlantic Star Analytics, the total number of Irish SPVs surged to 3,608 by year-end, marking a significant milestone for the industry.

This growth represents an increase of 86 vehicles (+2.4%) from the previous quarter, which itself saw a rise of 29 vehicles (+0.8%). The sector's expansion is driven by both Financial Vehicle Corporations (“FVCs”) and Other Special Purpose Entities (“SPEs”). FVCs increased by 15 (+1.0%) to a total of 1,563 active vehicles, while Other SPEs saw a substantial rise of 71 (+3.6%), ending the year with 2,045 vehicles. Notably, revisions to Central Bank data have adjusted the previously reported Q3 vehicle count, further highlighting the dynamic nature of this sector.

In terms of assets, Irish SPVs collectively held €1,147.5bn at the end of Q4-2024, setting a new all-time high. This impressive figure is split between FVCs, which held €665.8bn and Other SPEs, which accounted for €481.8bn. The total assets rose by €34.0bn (+3.0%) during the quarter, with FVC assets increasing by €8.2bn (+1.3%) and Other SPE assets rising by €25.7bn (+5.6%).

The robust performance of Irish SPVs underscores their critical role in the financial ecosystem. As vehicles designed to isolate financial risk, SPVs are instrumental in facilitating complex financial transactions and investment strategies. The continued growth in both the number of vehicles and total assets reflects the confidence of investors and the strategic importance of these entities.

Looking ahead, the Irish SPV sector is poised for further expansion. The record-breaking figures from Q4-2024 serve as a testament to the sector's resilience and adaptability in the face of evolving market conditions. As Ireland continues to attract global investment, the SPV sector will undoubtedly play a pivotal role in shaping the future of finance.

How We Can Help

Through our team of highly competent and experienced practitioners, we offer the full range of services required for the establishment, operation and management of SPVs. We are dedicated to delivering exceptional service, appointing only experienced directors with the requisite expertise to oversee our SPV portfolio. Our specialist legal and accounting teams uphold the highest standards of corporate governance and financial management. Through meticulous monitoring and diligent application, we ensure full compliance with all applicable laws and regulations.

Collaborating extensively with originators of securitised assets, financial institutions, investment managers, arrangers, trustees, investors, collateral managers, and regulators, we offer bespoke services tailored to the specific requirements of each transaction. Our commitment is to provide the best solutions to meet your business needs.

For more information, please reach out to Niamh Manning, Client Relationship Director.