Standard Life Launches £2 Billion UK Pension Risk Transfer Venture With CVC and Prudential Financial

Standard Life announced "Standard Life PRT Solutions," a pension risk transfer partnership backed by capital commitments of up to £2 billion ($2.72 billion) over five years. A consortium led by private equity firm CVC and Prudential Financial will fund the vehicle, expanding Standard Life's capacity in the UK's competitive bulk annuity market. Individual consortium allocations were not disclosed.