Clearwater has advised International Administration Group (IAG), a Guernsey-based fund administration business, on its sale to Oak Group (Oak), a private client, corporate services and fund administration group backed by the Financial Services Opportunities Investment Fund (FSOIF).
Founded in 2000 by Mark Woodall and Alison Simpson, IAG is a specialist fund administration business with headquarters in Guernsey and a team of 43. IAG delivers bespoke fund administration and depositary services to private equity, open-ended, listed and alternative asset fund structures and will become the centre of fund expertise within the Oak business.
Oak, with its headquarters in Guernsey, launched in March 2019. The business is the consolidation of Oak Trust Group, Consortia Partnership and Kreston IOM, which between them have offices in Guernsey, Jersey, the Isle of Man, Malta and Mauritius. Oak is majority-owned by the TISE-listed FSOIF. As a permanent capital vehicle, FSOIF has a long term commitment to the financial services industry.
The deal will enable IAG to capitalise fully on its growing reputation in the market by working with a partner that can provide a larger platform and complementary skills. The business will be able to offer its clients a broader range of services and solutions.
