International Administration Group (IAG) has been acquired by private client, corporate services and fund administration group Oak.
Both groups are based in Guernsey, with experience in fund and depositary services, including private equity and alternative asset fund models.
The business is the consolidation of Oak Trust Group, Consortia Partnership and Kreston IOM.
The acquisition is currently subject to regulatory approval but is predicted to “significantly enhance” Oak’s available services, with the expected appointment of over 200 employees across six jurisdictions.
Oak’s CEO Stuart Platt-Ransom, commented: “The IAG team has extensive experience within the funds industry—they are specialists in delivering a tailored and professional fund administration service, and I’m pleased that the highly knowledgeable team is joining Oak.”
“Our people-led approach is shared by IAG, which makes this new development a great fit for everyone involved. The addition of IAG to Oak is an integral step in our strategy of developing a business that can offer a full range of administration services internationally.”
Alison Simpson, CEO of IAG, added: “IAG is very excited to be joining Oak to strengthen its fund administration services.”
“We wanted to capitalise on its growing reputation in the market for some time, but we recognised that we couldn’t do this alone. Oak provides us with a larger platform, opportunities in new jurisdictions, a broader range of services and solutions for our clients and complementary skills to help us achieve our goals.”
