Swiss Re, the insurance group, is to step into the already-crowded market for buying out companies' pension schemes in a move that raises questions over its relationship with Pension Corporation, a buyout player it has previously invested in. Swiss Re said the businesses will be "complementary".
The Swiss insurance giant is one of the most significant of the 12 backers that have put up a combined £1bn (â¬1.3bn) of equity capital behind Pension Corporation, which was launched by the private equity entrepreneur Edmund Truell two years ago. It has since taken on about £5bn's worth of company pension schemes.
