How do you respond to requests for an own SPV (Securitization Vehicle/ Issuer)?
Possible reply:
"We as Gessler Capital work with established and experienced arrangers who already hold one or more SPVs for themselves or a few clients. We cover the sales part in the value chain and get paid from their margin.
If you do not take the role as an arranger yourself and are therefore not familiar with all the processes and structuring, it does not really make sense from my point of view to launch your own SPV. All products from Luxembourg (compartments) are 100% segregated and you would have no advantages to have your own SPV with an external arranger, but just additional and unnecessary fix costs. Furthermore, you will benefit from economies of scale on the total AUM if you launch your products through an existing SPV. Without being an arranger yourself, you are very likely best off with compartments. If you still want your own SPV with your external arranger, it can be organized. Compartments could also be transferred to a separate Securitization Vehicle at a later date when it starts to be worthwhile."