Standard Life launches $2.7 billion UK pension venture with CVC, Prudential-led group

Prudential Financial

20/08/2026 08:25

Aug 20 (Reuters) - Standard Life SDLF.L on Thursday announced a pension risk transfer (PRT) partnership backed by investments of up to £2 billion ($2.72 billion) with a consortium led by CVC CVC.AS and Prudential Financial PRU.N to target large UK pension schemes.
Here are some details: 
The partnership, called Standard Life PRT Solutions, will be funded through capital commitments of up to £2 billion over five years, including £500 million from Standard Life and a £400 million commitment from CVC. The remainder will be provided by other consortium members.
The consortium also includes Goldman Sachs GS.N, MS&AD and other long-term institutional investors.
British retirement specialist Standard Life will lend its pension risk transfer expertise and retain full operational control of the platform.
PRT takes on pension liabilities from companies looking to offload their retirement schemes. It has become a key growth driver in the insurance industry.
Standard Life said the platform would focus on larger UK pension schemes and corporate sponsors looking to transfer defined-benefit pension obligations to insurers.
According to CVC, the UK PRT market remains one of the world's largest with about £1.2 trillion of defined-benefit pension liabilities yet to be transferred to insurers.
The deal follows recent moves by private capital firms to partner with insurers in retirement markets, combining long-term capital with private market investment capabilities to capture growing pension de-risking demand.
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 (Reporting by Atharva Singh and Simone Lobo in Bengaluru; Editing by Subhranshu Sahu)
 ((Atharva.Singh@thomsonreuters.com;))