UK - Pension fund buyout company Pension Corporation has taken over competitor Synesis Life, a source close to the deal confirmed to Global Pensions.
Rumours have abounded about a possible merger for several weeks and with a lack of liquidity in the markets commentators thought it would only be a matter of time before the first consolidation.
Global Pensions was told RBS would be brokering the deal with the other investors in Synesis Life.
Pension Corporation has completed several deals since its inception and has further scope to continue with a good deal of its £1bn start up capital remaining.
The Synesis Life website has either been removed from service or was experiencing technical problems.
There was no response from the company direct number.
Both companies' spokespeople declined to confirm the deal had actually happened, but would not deny it was likely.
RBS declined to comment.
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