UK - Terra Firma exits Thresher and pension assets of Thorn TV rental business

Terra Firma has sold the 2000-strong off-licence chain Thresher to a team of investors led by Edmund Truell. The deal includes the sale of another of Terra Firma's assets from its first fund, the pension assets of Thorn, the television rental company. Truell, the founder of Duke Street Capital, established the Pension Insurance Corporation last year with a view to competing with Prudential and Legal & General to acquire the assets and liabilities of mature occupational pension schemes. By October 2006, Truell had raised £1bn for the vehicle having targeted £400m.