Private equity firm ECI Partners made an investment in Independent Governance Group, a U.K. professional pension trusteeship and governance services provider, according to a news release.
The investment by ECI prompts the exit of Lloyds Development Capital, a private equity investor and subsidiary of Lloyds Banking Group, from its stake in IGG.
IGG was founded in February 2023 following the merger of Ross Trustees and Independent Trustee Services. LDC first invested in Ross Trustees in November 2020, before backing the creation of IGG.
IGG employs more than 200 people, and the firm provides professional services to 386 pension plans with total plan assets of £324 billion ($423 billion).
"IGG has rapidly grown into one of the leading providers of trusteeship and governance services in the U.K.," said Andrew Bradshaw, CEO of IGG, in the news release. "This is due to the hard work of our skilled and diverse team, which ensures pension plans of all shapes and sizes look to IGG to deliver the knowledge, experience and perspectives essential for strong governance."
Recent developments by IGG include the rollout of IGGiQ, a platform that provides real-time analysis of a pension plan’s investment performance, and IGGnite, a consolidated governance model for small pension plans.
