UK - Paternoster has clinched a deal to buy out the Chrysalis Group Retirement Benefits Scheme.
Mark Wood, chief executive, Paternoster, commented: "The sale of part of Chrysalis created an opportunity the pension promise through an insured buyout."
Wood said the transaction had been complex and completed during turbulent investment conditions.
Michael Connole, group finance director, Chrysalis, said: "Price was always an important factor but the key was the selection of an organisation that could tailor their offering to meet our objectives, rather than force us through a standard process."
Elsewhere, a spokesman for fellow buyout specialist Luicda said the company could not confirm or deny press reports it was in negotiations with industrial manufacturer Morgan Crucible to take on its group pension scheme.
Last week, the Pensions Regulator (TPR) announced it would get greater powers in the emerging pension buyout market.
These powers would make it easier for TPR to install independent trustees should it consider the interests of scheme members were at risk.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.