Slaughter and May is advising CVC Capital Partners in connection with the purchase, by its Strategic Opportunities Platform, of the shares currently held by a number of investors in Pensions Insurance Corporation Group Limited, the ultimate parent company of Pension Insurance Corporation (“PIC”). The investment is conditional upon customary regulatory approvals.

PIC is a specialist insurer and leading provider of bulk annuities to UK corporate pension schemes, which have over £2,100 billion of pension liabilities. PIC has in excess of £20 billion in financial assets and secures the benefits of more than 130,000 individuals.
Contacts

Corporate and Commercial: Jeff Twentyman (partner), Robert Chaplin (partner), Anant Prakash (associate), Richard Faichney (associate), Chris Smith (associate); Financial Regulation: Nick Bonsall (partner), Tim Fosh (associate)