
Apollo, Carlyle and KKR are studying separate bids for Pension Insurance Corporation ahead of a deadline this week, as big private capital groups look for a way into the thriving market for UK corporate pension deals.
London-based PIC has more than 300,000 policyholders amassed through so-called bulk annuity deals, where it takes over pension fund liabilities and the assets backing them from their sponsoring companies. This year it did the biggest UK deal of its kind, when general insurer RSA offloaded £6.5bn of liabilities to the group.
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