London, United Kingdom – Addleshaw Goddard the international law firm has advised its client Alltrust Services Limited on its acquisition of the main pensions business and assets of PSG SIPP Limited.

In a transaction supported by the FCA, AG negotiated an Asset Purchase Agreement with the prospective Administrators' advisers, involving the complex transfer of various managed pension assets and accounts.

PSG SIPP, a self-invested personal pension operator authorised and regulated by the FCA, had most of its assets purchased out of administration by Alltrust Services, an established provider of pension administration services for various types of pension schemes. PSG acted as scheme administrator, operating around 5,500 SIPPs with a total investment value of approximately £1.2 billion.

Karl Clowry and Claire Wainwright advised on the transaction and the principal documentation from a Restructuring and Insolvency perspective with considerable input of Steven Francis in AG's Financial Regulation team, Jade Murray and James Pickering in AG's Pensions team, David Palmer and Katherine Nash in AG's Employment Team, Ross McKenzie in AG's Data Protection team and John Duffy from AG's Distressed Real Estate team.

Addleshaw Goddard partner Karl Clowry leading the AG team who acted as legal advisers to Alltrust commenting on the deal said: