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Standard Life expands pension risk transfer with investor consortium
The partnership is backed by up to £2 billion in initial capital, including £500 million from Standard Life, drawn over five years.
Standard Life has announced a strategic partnership to expand its Pension Risk Transfer, or PRT, business across a wider range of defined benefit pension scheme sizes, including larger and more complex plans, subject to regulatory approval.
The deal brings together CVC Capital, Prudential Financial, Goldman Sachs, MS&AD, and other long-term institutional investors, with the partnership funded by a combined initial capital commitment of up to £2 billion expected to be drawn over five years, including £500 million from Standard Life.
The consortium is led by CVC and Prudential, while CVC, PGIM, and Goldman Sachs Alternatives will originate high-quality assets to back pension liabilities for both the new partnership and Standard Life’s existing PRT operations.
Standard Life said the expanded platform is intended to give trustees and sponsors for the largest schemes an additional alternative to secure pensions for their members in the UK, with the effort positioned as part of its broader retirement savings strategy.