Pension Corporation, the retirement-fund buyout group founded six years ago by Edmund Truell, looks set to add £400m in capital with an investment by the Rupert family, founders of the Richemont luxury goods business. The contribution, to which Truell hopes to add £100m, could give up to £5bn in firepower for new deals.

The deal has yet to be finalised, but negotiations look to be at an advanced stage, with both parties going public this morning as Reinet, the investment vehicle of the Rupert family, published its annual results. The Rupert family founded the Richemont luxury goods business.