Standard Life Forms Up-to-£2 Billion Strategic Partnership With Investors Led by CVC Capital and Prudential Financial

Paul, Weiss is advising Standard Life plc, a retirement specialist focused on retirement savings and income, on its strategic partnership with an investor consortium led by CVC Capital Partners plc and Prudential Financial, Inc. to expand its Pension Risk Transfer (PRT) business. The partnership will be funded by a combined initial capital commitment of up to £2 billion, expected to be drawn over five years. The consortium also includes The Goldman Sachs Group, Inc., MS&AD Insurance Group Holdings, Inc. and other long-term institutional investors. 

The deal, which is subject to regulatory approval, will combine Standard Life’s leading PRT capabilities with the investors’ global private markets asset origination.

The Paul, Weiss team is led by corporate partners Dan Schuster-Woldan and Benjamin Wilkinson, and includes partners Reva Raghavan, Jeremy Leggate, Hannah Wilson and John Cavanagh; tax partners Timothy Lowe, Robert Holo, Deeksha Rathi and Kyle O’Sullivan; intellectual property partner John Patten and counsel Alex Zapalowski; litigation partner Leo Kitchen; and antitrust partner Lauren O’Brien.