Ogier is expanding its structured finance operation in Ireland with the purchase of a substantial portion of the Pegasus Corporate Services Limited (PCSL) client base plus supporting infrastructure.
The expanded business, which will be called Ogier Fiduciary Services (Ireland) Limited, comes just 18 months after Ogier first started providing administration services out of Ireland.
Commenting on the purchase, Jonathan White, Ogier Group Chairman stated: “Having a strong administration offering in Ireland is a key component to the continued growth of our structured finance business as Ireland continues to demonstrate that it is a premier on-shore jurisdiction and domicile of choice for the securitisation industry.”
The news comes hard on the heels of Ogier being ranked top offshore law firm by Factset Global Filings in their Q1 league tables, having advised on more deals (including all securities and programmes) than any other offshore law firm.
Chris Byrne, Head of Structured Finance at Ogier added: “Clients are expressing a strong preference for having their structured finance transactions administered in Ireland. We fully expect this trend to continue as Irish SPVs are increasingly the SPVs of choice in the international onshore market.”
Ireland sees in excess of 2,000 incorporations every year, has a very extensive network of bilateral taxation agreements, and is the largest SPV domicile in the European Union.
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