Standard Life leads £2B partnership, expanding UK pension risk transfers

Standard Life, a Phoenix Group subsidiary, partnered with CVC Capital Partners, Goldman Sachs, and Prudential Financial. The consortium committed up to £2 billion in capital over five years to expand Standard Life’s Pension Risk Transfer (PRT) business. Standard Life will contribute £500 million to the initial funding.

The collaboration enables Standard Life to acquire larger and more complex defined benefit pension schemes. Consortium partners will originate private market assets, including direct loans and infrastructure debt, to back long-term pension liabilities. This move reflects a growing trend of private capital firms entering the UK market to offload corporate pension plans.