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 ...

Alexander Spatari/Getty Images CVC Capital Partners is deepening its push into insurance capital, co-leading a consortium of institutional investors committing capital to Standard Life's UK pension risk transfer business. CVC will commit £400 million ($545.8 million) of capital to the partnership, to be drawn over multiple years, as part of a consortium led by CVC and Prudential Financial, alongside Goldman Sachs and MS&AD. Together with £500 million from Standard Life, the consortium will fund up to £2 bil ...