Defined benefit (DB) consolidator Clara will get up to £500m of capital backing from global credit investment firm TPG Sixth Street Partners (TSSP), paving the way for its first deals.
An initial £225m has been pledged to the consolidator, although money will be transferred to Clara as and when deals are struck, while ensuring there is an adequate capital buffer. The finance comes...
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Caroline Rookes CBE and Michele Hirons-Wood have joined The Pension Superfund's board of trustees to focus on maintaining governance standards and safeguarding member benefits.
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.