TSSP to invest £500m in Clara-Pensions

TPG Sixth Street Partners (TSSP) plans to invest £500m in DB pension consolidator Clara-Pensions and become its provider of long-term capital.

TSSP has committed an initial £225m, which is expected to increase to £500m as Clara-Pensions "grows to scale".

Following this investment, Clara-Pensions is ready to accept its first pension scheme members, subject to applicable regulatory approvals.

Strong, patient capital is “key” to its model for “securing members pensions”, according to Clara-Pensions CEO, Adam Saron.

He continued: “Finding the right partner to provide this has been a careful, crucial journey and TSSP fulfils exactly the criteria we have been looking for. Its track record and commitment to long-term capital investments chime perfectly with Clara’s aims.”

The superfund’s ambition is to consolidate at least £5bn of pension liabilities over the next five years.

It aims to act as a bridge for members from their current company sponsor to the insured market.

Saron concluded: “Today is another significant milestone for Clara and our future members. We now look forward to welcoming our first pension members and beginning their journeys to a safer, insured future.”

    Share Story:
Spotlight on pensions tracing: making huge strides in a changing world
Alex Mitchell, Head of Tracing & Data Solutions at Capita, meets Francesca Fabrizi, Editor in Chief of Pensions Age to discuss recent trends in the pensions tracing space

MAC strategies in focus
Francesca Fabrizi meets Craig Scordellis, Head of Long-Only Multi-Asset Credit at CQS, to discuss what MAC strategies can offer pension schemes today