A consortium led by CVC Capital Partners and US insurer Prudential Financial is close to securing a stake worth more than £1bn in Standard Life’s pension risk transfer business, according to a report by thew Financial Times citing unnamed people familiar with the discussions.
The group has emerged as the frontrunner in a competitive process to invest in a newly created Standard Life subsidiary designed to support larger defined-benefit pension buyouts, the people said. The deal has not yet been...
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