09 February 2026 Case Study: Seamless fund migration strengthens a long-standing relationship

Cubera Private Equity, a Nordic private equity fund-of-funds manager headquartered in Oslo, Norway, with an additional office in Sweden, has entrusted Oak with the administration of its Guernsey-domiciled structures for more than a decade. This long-term relationship, built on technical expertise and consistent delivery, includes a full suite of services: fund administration, company secretarial, accounting, compliance, payments and board-level directorships.

When a newer fund, initially placed with a different provider as part of Cubera’s exploration of alternative administrative services in Guernsey, did not meet expectations, Cubera turned to Oak to assume the role.

Backed by a successful track record, Oak was invited to pitch for the transition. Following the decision to proceed, the migration was completed in April 2024, delivering a smooth, timely and well-controlled handover of records, processes and investor communications.

“Cubera Private Equity has had a close relationship with Oak (previously IAG) in Guernsey for more than ten years. Oak provides knowledgeable, efficient and accurate fund administration and board services to three Guernsey-domiciled PE fund-of-funds advised by Cubera.”

Bjørn Vedahl, Chief Financial Officer, Cubera Private Equity

This outcome reflects a deep fund administration heritage, strengthened by the 2019 acquisition of International Administration Group (IAG), a specialist in private equity and alternative asset structures. Founded in 2000, IAG built a strong reputation for bespoke, director-led service. Its integration enhanced Oak’s position in the Channel Islands, combining institutional scale with a personalised service model.

Cubera’s decision to expand the scope of its engagement demonstrates confidence not only in operational delivery, but in the provider’s ability to evolve alongside its clients. The transition highlighted:

• Efficient fund migration, managed with minimal disruption
• Deep knowledge of Guernsey fund structures
• Consistent delivery across multiple fund vintages
• Responsive, director-led service model

This case study illustrates how institutional clients benefit from Oak’s combination of scale, specialist expertise and personal service. As a business powered by Opera, Oak is further strengthened by long-term investment, shared infrastructure and a deliberate approach to integration, enhancing its ability to support clients through complex transitions while preserving continuity and trusted relationships.