CVC will commit £400 million to a consortium backing Standard Life’s UK pension risk-transfer business, part of a funding package of up to £2 billion expected to close in H1 2027.
Standard Life is contributing £500 million and keeping 51% of voting rights, while CVC, Prudential Financial, Goldman Sachs and MS&AD provide capital and asset origination for larger pension schemes.
The platform will channel private-market investments including asset-backed lending, structured credit and real estate credit as it targets £1.2 trillion of UK defined-benefit liabilities still to move to insurers.
The deal is CVC’s second insurer partnership in under a year, following its January 2026 tie-up with AIG, and extends a diversification push in which credit, secondaries and infrastructure now make up more than 55% of fee-paying AUM.