CVC, Standard Life form joint venture for UK pension risk transfer platform with up to £2 billion capital commitments

CVC Advisers Ltd. entered a strategic joint venture with Standard Life to launch a UK Pension Risk Transfer platform for large corporate schemes.

• Initial capital commitments of up to GBP 2 billion will be drawn over time to support transactions; Prudential Financial is part of the consortium.
• CVC committed GBP 400 million over multiple years, expanding its Credit & Insurance strategy through an asset-light partnership model.
• Standard Life will provide origination, structuring, regulatory infrastructure, and UK pensions relationships; closing is subject to customary regulatory approvals.
• The platform targets a UK market with about GBP 1.2 trillion of defined benefit liabilities yet to transfer to insurers.