![Unquote](/images/site-logo.png)
The pension battleground
In February, a poll of more than 250 trustees of company final salary pension schemes found that 72% would be concerned at the prospect of being acquired by a buyout house. Trustees were concerned that a private equity sponsor would weaken the covenant thst commits an employer to finance the pension scheme. Recent proposals drawn up by the Department of Work and Pensions to give the Pensions Regulator greater power to force employers to inject more funds into company pension schemes post takeover should therefore be welcome news to trustees. By removing the need to prove that an employer acted intentionally to leave a pension deficit unfunded, the regulations could hamper the ability of private equity to restructure balance sheets of portfolio companies via a refinancing or debt issuance
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater