Standard Life Teams Up with CVC and Goldman Sachs to Bolster PRT Business

Standard Life has formed a strategic partnership with a consortium of institutional investors to expand its Pension Risk Transfer (PRT) business.

The consortium includes CVC Capital Partners plc, Prudential Financial, Inc. (PFI), The Goldman Sachs Group, Inc., MS&AD Insurance Group Holdings, Inc., and other long-term institutional investors.

Standard Life will commit £500 million to the partnership, with the remaining capital provided by the consortium led by CVC and PFI.

The expanded PRT business is expected to support pension schemes across a broader range of sizes, including the largest and most complex defined benefit (DB) schemes.