Alltrust: Acquisition of Main Pensions Business and Assets of PSG SIPP

Addleshaw Goddard, an international law firm, has successfully advised Alltrust Services Limited on acquiring the main pensions business and assets of PSG SIPP Limited. PSG SIPP, which was under administration, had most of its managed pension assets transferred to Alltrust Services in a transaction approved by the Financial Conduct Authority (FCA). The deal entailed drafting an Asset Purchase Agreement with advisers of the prospective Administrators, emphasizing the complex transfer of pension assets. Alltrust Services, a prominent figure in pension administration, took over the assets, which encompassed around 5,500 self-invested personal pensions (SIPPs) valued at approximately £1.2 billion. The legal team from Addleshaw Goddard comprised experts from various specializations such as restructuring, insolvency, financial regulation, pensions, employment, data protection, and distressed real estate, illustrating the multifaceted nature of the transaction.