Ogier, the offshore law firm, has bought a substantial proportion of an Irish structured finance business. The firm has acquired the majority of the Pegasus Corporate Services Limited (PCSL) client base. Pegasus specialises in special purpose vehicles (SPVs).Irish SPVs are currently the flavour of the month. 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. Jonathan White, Ogier group chairman said: “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.” 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.” Ogier opened in Dublin earlier this year and partnered with Pegasus to provide structured finance products.