View more on these topics

Pearl Group has £7bn for pension buyouts

Pearl Group has declared its aggressive takeover ambitions in the pension scheme buyout sector and says it has a £7bn war chest.

Speaking at a Cazalet Consulting conference on asset management in UK life and pensions, former pizza to pubs entrepreneur Hugh Osmond was very bullish about the growth strategy of his closed life fund operation.

He said the firm will go head to head with new final-salary buyout vehicles, such as Paternoster.

He said: “We are definitely in the market and have the capital and strategy to play in size. We want to play in the £1bn-plus market, we are not interested in small deals.”

He said the firm’s higher- risk strategy means it is equ- ally interested in taking over ailing companies and turning them into profit- able ones as cherrypicking successful firms.

Paternoster chief executive Mark Wood says: “The defined-benefit buyout market is rapidly expanding and, with something in the order of £1trillion assets under management, increased compet- ition is a natural response.”

Recommended

Money Marketing wins B&B award

Money Marketing was named personal finance trade newspaper of the year at the prestigious Brad- ford & Bingley Awards at London’s Great Eastern Hotel last week. The paper was praised for its mix of news and in-depth features.

FSA focus on advice quality

Newcob will give advisers new freedom and responsibilities as prescriptive rules are cut away but the FSA says it will keep a close eye on the qual- ity of the outcome. Speaking to Money Marketing on the release of the Newcob consultation, FSA director (retail policy and asset management sector) Dan Waters says the regime […]

Flexible income plan from Cirencester

Cirencester Friendly Society has set up a flexible income protection product. Income Assured Plus lets consumers move between protection and investment, protection-only or investment-only options throughout the life of the policy.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com