Services

Highvern and Permian (the “Group”), with continued backing from Jacobs Capital, are acquiring Guernsey-based Oak Fund Services as part of its strategy to expand in key markets and further consolidate its position as a leading international provider of fund services and private capital solutions. Founded in 2000 and part of The Opera Group, Oak Fund Services is a leading fund administrator with extensive experience supporting alternative investment structures, including private equity, real assets and infrastructure. The business, which is led by James Tracey, brings local expertise, an established and growing client base, and a strong reputation for delivering high-quality, client-focused services. Following completion of the acquisition, James Tracey will become Head of Funds, Guernsey for the Group. This acquisition strengthens Highvern & Permian’s presence in Guernsey, bringing together complementary fund services businesses to create greater scale and a broader offering in a market where clients increasingly value strong local delivery supported by international reach. The addition of Oak Fund Services further deepens the Group’s expertise across real estate, real assets, private debt, private equity and venture capital. The combined business will unlock value for clients in Guernsey through greater choice, the ability to support more complex cross-jurisdictional needs, deliver consistent service excellence and support long-term sustainable growth. Following the announcement earlier this year of the acquisition of PANDOO, a Luxembourg-based specialist fund services provider (subject to regulatory approval), the Group’s international footprint will span nine jurisdictions. Commenting on the transaction, Caroline Connellan, Group CEO of Highvern & Permian, said: “We are delighted to welcome Oak Fund Services to the Group. This acquisition brings together two highly regarded Guernsey businesses with talented people, closely aligned cultures, shared values and a commitment to exceptional client service. "Oak Fund Services has built an excellent reputation in the Guernsey funds market, and together we have an exciting opportunity to offer clients greater choice across asset classes and jurisdictions, while further reinforcing the strength of Guernsey within our wider international business.” Kim Sgarlata, Group CEO of Opera, said : “Oak Fund Services in Guernsey is a high-quality business, and we are confident Highvern & Permian provides the right home for its clients and people as Opera sharpens its focus on specialist private wealth, private capital, and institutional expertise. “Through HFL, Oak Jersey Funds and the broader group platform, we are building deep, differentiated capabilities across the full spectrum of the innovation economy, from founders and entrepreneurial capital through to sovereigns.”

Permian is pleased to announce the successful completion of an ISAE 3402 Type I assurance engagement , following an independent audit conducted by BDO. The resulting ISAE 3402 Type I report provides assurance that our internal controls related to fund administration and fund accounting —also with a focus on IT systems and access rights management—are suitably designed as of the assessment date. This achievement underlines Permian’s commitment to maintaining a robust and structured control framework and supports the delivery of reliable, high-quality services to our clients. It also provides fund managers, investors, and other stakeholders with enhanced transparency into how our operations are governed and controlled. “This is an important milestone for us. It confirms that we have a strong foundation in place across our operational processes and control environment, reflecting the work and dedication of our team,” says Johanna Bjenne, Head of Fund Operations, Onshore. The ISAE 3402 standard is widely recognised across the financial services industry and is commonly used in due diligence processes by institutional investors and partners. For more information about our ISAE 3402 Type I report and our approach to governance, risk management, and internal controls, please contact us here.