International Administration Group and Thompson Taraz join forces to launch IAG UK
London, 07 August 2014: International Administration Group (IAG) has joined forces with Thompson Taraz to launch International Administration Group UK Limited (IAG UK). From its Mayfair offices, IAG UK will provide onshore fund and corporate administration services to the UK private equity and real estate market.
IAG UK is IAG’s fourth joint venture agreement with fund administration businesses in key investment fund markets in the last nine months. In October 2013, IAG established a joint venture with Tricor (Tricor IAG) in Hong Kong, followed by Fiducenter in Luxembourg in November, and in January this year Tricor IAG was rolled out in Singapore. IAG can now call on the expertise of 100 staff in Europe and 1600 in Asia from 26 offices around the world.
IAG was established in 2000 by Alison Simpson, Chief Executive Officer and Mark Woodall, Chief Financial Officer. It has assets under administration of £10 billion and its head office is in Guernsey, with offices in Luxembourg, Hong Kong, Singapore and the Cayman Islands. IAG specialises in providing fund administration services to private equity, real estate, alternative assets and listed corporate structures around the world. Raymond Page joined the founders as Managing Director in 2006. IAG established its private equity division in 2008.
Commenting, Raymond Page, Managing Director of IAG, said: “We can now accelerate our plans to provide a comprehensive and established onshore administration service in London. IAG UK, alongside Thompson Taraz with its PE Depositary and AIF Manager offering, is ideally placed to help private equity fund managers deal with new regulatory challenges and enable them to concentrate on raising funds and doing deals.”
Since it was founded in 1993 by Afshin Taraz, Thompson Taraz has developed and grown from a chartered accountancy firm into one of the UK’s leading providers of fund administration and regulated management services to closed end UK funds from its Mayfair headquarters. Thompson Taraz will continue to provide Private Equity (PE) Depositary and Alternative Investment Fund (AIF) Manager Services under its current FCA authorisations. It has assets under administration of £1bn.
Commenting on the formation of IAG UK, Afshin Taraz added: “This marks an important milestone in the growth of our business at a time of great regulatory change for private equity fund managers. We share with IAG a similar approach to business by putting the client at the centre of our offering, ensuring a professional and flexible approach, led by the board directors, which our clients really value.”