Tuesday 19, June 2018 by Kudakwashe

ADIA to acquire stake in pension firm

 

The stake will be acquired from funds advised by private equity firm J.C. Flowers & Co

  

The Abu Dhabi Investment Authority (ADIA) said its private equity department will acquire a stake of up to 21.4 per cent in Pension Insurance Corporation Group (PIC Group).

PIC Group has become one of the world's biggest investors in bulk annuities, which cover the pension obligations of defined benefit, or final salary, pension schemes for staff.

Hamad Shahwan Aldhaheri, Executive Director of ADIA's private equity department, said the investment, subject to regulatory approvals, demonstrates the department's ongoing strategy to seek out principal investments in market-leading businesses, reported Zawya.

  

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