Standard Life has agreed to a partnership with a consortium of investors to expand its pension risk transfer (PRT) business, with a combined initial capital commitment of up to $2.72bn (£2bn). The consortium consists of CVC Capital Partners, Prudential Financial (PFI), Goldman Sachs and MS&AD Insurance Group, together with other long-term institutional investors. Of the total £2bn commitment, £500m will be provided by Standard Life, funded through yearly excess cash generation, while the balance will come f ...