A structured investment vehicle, often called an SIV, used to be a financial company designed to make money by taking advantage of the difference between the income it earned from its investments and the money it owed to others, much like a regular bank. They became quite popular until 2008 when the financial market experienced a significant crash. These SIVs were essentially a collection of investment assets that aimed to profit from the difference in interest rates between short-term debts and long-term financial products like asset-backed securities (ABS). Usually managed by a commercial bank or an asset manager like a hedge fund, these SIVs would issue something called asset-backed commercial paper (ABCP) to raise funds for purchasing these securities. You might also hear them referred to as conduits sometimes.