Fund manager Michael Hasentab become Ireland's biggest single private creditor according to the Financial Times.

Earlier this year, it came to light that he had made a big bet on Irish government bonds when it was revealed he'd bought €4 billion worth of Irish debt.

Now the Financial Times says his fund, Franklin Templeton, holds €6.1 billion worth of Irish government debt, which is more than any other private investor.

The Franklin Templeton funds which hold $158 billion in assets.

Mr Hasentab told that Financial Times that while the fund manager might have positions in smaller markets, they remained small compared with the fund's total assets.

He is quoted as saying that the fund could always quickly hedge its exposure in the credit derivatives market.