PIC invests a further £37.5 million in welsh housing
We exploit dislocations in markets and unlock value from complex situations using a Get Rich and Stay Rich strategy. This strategy has given rise to returns over 23 years of 28% p.a. Net IRR
We exploit dislocations in markets and unlock value from complex situations using a Get Rich and Stay Rich strategy. This strategy has given rise to returns over 23 years of 28% p.a. Net IRR
London, 26 April 2021 – Pension Insurance Corporation plc (“PIC”), a specialist insurer of defined benefit pension funds, has completed a debt investment totalling £37.5 million in Welsh housing association Wales and West Housing. The investment will go towards the funding of 2,500 new homes to be built over the next five years. This is PIC’s third investment in the Welsh social housing sector after Pobl and the Welsh Housing Partnership (WHP), taking the total amount invested to over £200 million.
Headquartered in Cardiff, Wales and West manages around 12,000 homes in 15 local authorities in Wales. These include more than 3,000 dedicated properties for older people as well as innovative supported housing solutions for people with a range of particular needs.
Key points of the transaction:
Eugenia Korobova, Debt Origination Manager at PIC, said: “We are very happy to have invested in Wales and West, a dynamic social housing provider. Sourcing long-dated, secure cash flows is important to PIC. The investment backs our long-term pension liabilities, while having the beneficial outcome of putting PIC’s capital to use in parts of the economy where funds are vitally needed.”
– ends –
Notes to Editors:
For further information please contact:
Pension Insurance Corporation Jeremy Apfel +44 (0)20 7105 2140
apfel@pensioncorporation.com
Teneo Douglas Campbell +44 (0)20 3757 9231 douglas.campbell@teneo.com
About Pension Insurance Corporation
The purpose of PIC is to pay the pensions of its current and future policyholders. PIC provides secure and stable retirement incomes through leading customer service, comprehensive risk management and excellence in asset and liability management. At 31 December 2020, PIC had insured 273,500 pension scheme members and had £49.6 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of U.K. defined benefit pension schemes. Clients include FTSE 100 companies, multinationals and the public sector. PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). For further information please visit www.pensioncorporation.com
02/11/2023
Global Interconnection Group (GIG) is delighted to have signed an exclusivity agreement with a major UK energy company to explore collaboration on the Atlantic SuperConnection interconnection project.
Click the link in the title to read more
02/11/2023
Pension SuperFund Capital, which oversees UK commercial pension consolidator Pension SuperFund, has reached an agreement to acquire the parent group of Options Pensions, STM Group, for £35.6m.
The purchase was made through the Pension SuperFund Capital acquisition arm Bidco. It is expected that if the full value is delivered by the deferred consideration units (DCU), the acquisition value could rise to £39.8m, it was announced this morning.
The scheme shareholders will also be entitled to receive 60 pence per share in cash, rising to 67 pence per share if full value is delivered by DCU.
We’re glad to see that you may be inspiring others with our journalistic content. We ask that you copy our content for personal use only, so as not to violate our Terms and Conditions. Otherwise, ask about our group memberships via lorenzo.passarella@ipe.com. Text copied from: https://www.ipe.com/news/pension-superfund-capital-acquires-stm-group-for-356m/10069392.article
02/11/2023
ViroCell’s manufacturing operations are housed within Great Ormond Street Hospital’s state-of-the-art GMP accredited unit for manufacturing cell and gene therapies, the Zayed Centre for Research
London, UK and New York, US, 1 November 2023 – ViroCell Biologics (“ViroCell” or the “Company”), a specialist contract development and manufacturing organisation (“CDMO”) for cell and gene therapy (CGT) clinical trials, announces that the Company is now able to manufacture and globally export viral vectors from Great Ormond Street Hospital’s (GOSH) state-of-the-art manufacturing facility, the Zayed Centre for Research, for use in clinical trials. This follows the grant of a Manufacturer’s Authorisation License (MIA) to GOSH to manufacture viral vectors by the UK’s Medicines and Healthcare products Regulatory Agency’s (MHRA).
Read more by clicking the title link
02/06/2023
An experienced team of Private Markets analytics specialists supporting the industry renowned work of Professor Oliver Gottschalg of HEC Paris is delighted to announce the launch of Gottschalg Analytics as an independent second-generation provider of performance intelligence services for the Private Markets.
30/03/2023
Pension Insurance Corporation Group Limited1 ('PICG' or the 'Company'), ultimate parent company of Pension Insurance Corporation plc ('PIC'), the specialist insurer of UK defined benefit pension schemes, today announces its final results for the 12 months to 31 December 2022.
13/03/2023
DCAC announced proposals to form the Advanced Cables Business Combination in the press release issued by the Company on 20th February 2023. The DCAC Board has now decided to expedite the proposals, and DCAC has therefore agreed an exclusive option to acquire the holding company of Advanced Cables, Global InterConnection Group SA (“GIG” or the “Target”). Besides Advanced Cables, GIG is also the holding company of ASC Energy Limited. It is intended that DCAC will be renamed "Global InterConnection Group Limited" on completion of the Business Combination.