View more on these topics

Key Retirement Solutions sold in £35m deal


Key Retirement Solutions’ parent company Cabot Square Capital has sold its majority stake to private equity firm Phoenix Equity Partners for £35m.

Money Marketing revealed KRS was in takeover talks with a number of private equity firms as part of a review of its funding in December 2011.

Phoenix Equity Partners will hold the majority stake in the firm, while KRS chief executive Colin Taylor, managing director Paul Wilson and group directors Dean Mirfin and Richard Overson also hold stakes.

The deal is subject to regulatory approval and is expected to complete in August.

KRS says it is planning “new product launches and possible acquisitions” to build on the launch of a home buying and selling service Key Move Property Services.

Taylor said: “Since launch KRS has worked tirelessly to improve the level of financial advice available to those approaching or in retirement. We are excited about partnering with Phoenix, a firm with considerable experience of investing successfully in the retirement segment of financial services, to continue to build KRS into the trusted brand for the over 55s.”

Phoenix managing partner Sandy Muirhead says: “We believe KRS represents a highly attractive platform from which to develop a broader retirement services proposition. We have strong knowledge of this sector, by virtue of our highly successful previous investment in Partnership Assurance, which we created in 2005, and we look forward to working with the KRS management team to build another leading business in this sector.”

Cabot Square Capital took a 60 per cent stake in the firm in May 2006. It replaced Anglo Irish Bank which previously held a 51 per cent stake.


Chelsea’s RedZone grows to £34bn in underperforming funds

Investors have over £34bn in persisently underperforming funds, according to research by Chelsea Financial Services, with the amount held in the 10 worst offenders jumping by more than 70 per cent since the start of year. The firm’s triannual RedZone report shows 146 funds, with combined assets under management of more than £34bn, have suffered […]


Chris Gilchrist: The trouble with Modern Portfolio Theory

In a recent column I outlined three types of response to the 2008 crash. Perceptive readers have noticed that I missed one out. In addition to long-only investors, tactical asset allocators and absolute returners, there is a fourth group, which you might think is the dominant one – yet I never speak to serious investment advisers […]

Beyond prime property

As investors continue their return to property, are there opportunities to be found outside London’s prime assets, or even away from bricks and mortar altogether?


Providers warn of surge in pension liberation scheme transfers

<!– <!– <!– <!– <!– <!– <!– <!– – –> –> –> –> –> –> –> Providers are urging the Government to take tough action against pension liberation schemes as Friends Life and Aviva warn the number of attempted transfers is skyrocketing.  Friends Life has seen refusals to “high-risk” schemes surge from just 56 in […]

Rayner Spencer Mills: Why we rate the Artemis Global Growth Fund

Ken Rayner and Graham O’Neill from RSM explain why they rate the fund, its investment process and how it can be used in a portfolio. The Artemis Global Growth Fund became a RSM ‘rated’ fund earlier this year. In this video, Ken Rayner and Graham O’Neill explain the fund’s investment approach, why they rate it, […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm