CVC and Standard Life Create £2bn Pension Risk Transfer Platform
CVC Capital Partners has partnered with British pension specialist Standard Life to establish a dedicated platform for Pension Risk Transfer (PRT) targeting major corporate pension schemes in the United Kingdom.
The transaction brings together a consortium of institutional investors and is part of the group's Credit and Insurance strategy development.
A Joint Venture Dedicated to Pension Risk Transfer in the United Kingdom
CVC Capital Partners (AEX: CVC) announced on August 20, 2026 an agreement to create a strategic joint venture with Standard Life (FTSE: SDLF), a specialist in savings and retirement income. The objective is to establish a new Pension Risk Transfer (PRT) platform focused on large British corporate pension schemes.
The project is supported by a consortium including Prudential Financial Inc and other long-term institutional investors. The platform will target large pension schemes and assist companies seeking to reduce risks associated with their existing pension obligations.
Up to £2 billion in Initial Commitments, of which £400 million Contributed by CVC
The joint venture will have combined initial capital commitments of up to £2bn, to be mobilized progressively to finance transactions. CVC will provide a capital commitment of £400m, to be drawn down over several years.
CVC will give Standard Life's PRT activity access to a range of investment opportunities in private markets, including asset-backed credit, structured credit, real estate credit, infrastructure credit, direct lending, opportunistic strategies and liquid credit. Standard Life will bring its PRT capabilities, origination and structuring platform, regulatory infrastructure and relationships within the British pension ecosystem.
Expanding Credit and Insurance Strategy
The transaction adds to CVC's recent partnership with AIG and the acquisition of Marathon Asset Management. The group's Credit and Insurance strategy now manages over €60bn in assets generating fees (Fee Paying AUM).
According to the statement, the British pension risk transfer market comprises approximately £1.2 trillion in defined benefit pension liabilities remaining to be transferred to insurers. Completion of the transaction is expected following the obtaining of customary regulatory approvals and satisfaction of closing conditions.
