PGIM joins CVC-led consortium backing Standard Life UK pension risk transfer venture with up to £2 billion commitment
PRU•PGIM joins consortium backing Standard Life expansion
PGIM joined a consortium backing Standard Life’s UK pension risk transfer expansion, targeting larger defined-benefit schemes, subject to regulatory approval.
The partnership is funded by up to GBP 2 billion of initial capital commitments over five years, including GBP 500 million from Standard Life.
The platform pairs Standard Life’s PRT underwriting with global private markets origination from consortium partners to broaden capacity.
PGIM will originate assets to back pension liabilities for the new partnership and Standard Life’s existing PRT business.
