Debevoise & Plimpton LLP has advised CVC Capital Partners ("CVC") and Prudential Financial Inc. ("PFI"), as well as acting as the lead legal advisor to the consortium, in a strategic partnership with Standard Life plc (“Standard Life”) to expand Standard Life's Pension Risk Transfer business to support schemes across a broader range of sizes, including the largest and most complex defined benefit schemes.

The partnership will be funded by an initial capital commitment of up to £2 billion, expected to be drawn over five years, including £500m from Standard Life, with the balance from the consortium, which is led by CVC and PFI.

For full details, see the official release here.

The team advising CVC, PFI and the consortium was led by partner Hugo Laing, international consultant Clare Swirski and associate Katie Power, and included associates Henry Dean, Alexandra Grady, Sandli Pandey and Saya Sharma. Funds advice was provided by partner John Rife and associate Annabelle Winfield. Tax advice was provided by partner Jennifer Wheater, counsel Paul Eastham, and associate Anna Chirniciuc. Competition advice was provided by partners Anne-Mette Heemsoth and Timothy McIver, and associate Aakanksha Jadhav. Intellectual property advice was provided by associate Katelyn Bryant.