CDC opts for £370 million buy-in deal with Goldman subsidiary
Concern over the long-term viability of financial institutions led UK government-owned emerging market investment vehicle the CDC Group to opt for a fully collateralised buy-in when offloading its pension liabilities in a £370 million deal with Goldman Sachs’ offshoot Rothesay Life.
According to John Deed, a trustee of the CDC Group’s pension scheme, uncertainty over the global economy made the issue of securing a collateral-based deal all the more pressing: “We moved from a situation where
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