CVC deepens insurance bet with Standard Life partnership

M&A · Partnership
โดย PitchBook News·GB·Read original
Summary · why it matters

CVC Capital Partners is co-leading a consortium of institutional investors committing capital to Standard Life's UK pension risk transfer business. CVC will commit £400 million, or $545.8 million, to the partnership, to be drawn over multiple years, as part of a consortium led by CVC and Prudential Financial, alongside Goldman Sachs and MS&AD. Together with £500 million from Standard Life, the consortium will fund up to £2 billion in total. Under the deal, CVC will provide Standard Life's PRT business with access to private market investment opportunities, including asset-backed lending, structured credit, real estate credit, infra credit, direct lending, opportunistic and liquid credit, as the firm eyes the £1.2 trillion of defined benefit pension liabilities yet to transfer to insurers. Standard Life will retain majority control of the venture, holding 51% of voting rights, with CVC and the consortium providing capital and asset origination. The partnership is expected to close in the first half of 2027, subject to regulatory approval.

Impact on stocks 5

Financials▲ · 3 stocks
CVC Capital Partners PLC
CVC
▲ PositiveCapitalrelevance

CVC commits £400 million to the partnership, gaining access to private market investment opportunities in the PRT sector.

Goldman Sachs Group Inc
GS
▲ PositiveCapitalrelevance

Goldman Sachs is part of the consortium investing in Standard Life's PRT business, providing capital and asset origination.

Aging Population▲ · 2 stocks
Standard Life PLC
SDLF
▲ PositiveCapitalrelevance

Standard Life receives up to £2 billion in funding from the consortium, enabling growth in its PRT business while retaining majority control.

Prudential Financial, Inc.
PRU
▲ PositiveCapitalrelevance

Prudential Financial co-leads the consortium committing capital to Standard Life's PRT business, expanding its presence in the UK pension risk transfer market.

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