Clifford Chance advises Prudential Financial and PGIM in £2 billion strategic partnership with Standard Life

Global law firm Clifford Chance is advising Prudential Financial Inc. ("PFI") on its participation in the consortium entering a strategic partnership with Standard Life plc (“Standard Life”), and PGIM on the asset origination and investment management arrangements supporting the partnership and Standard Life's existing pension risk transfer (PRT) business.

The partnership expands Standard Life's PRT business to support a broader range of defined benefit pension schemes and combines Standard Life's existing PRT proposition with the additional capital and investment expertise of PFI, PGIM and the consortium members.

The partnership as announced on 20 August 2026 will have combined initial capital commitments of up to £2 billion, to be drawn over time to support PRT transactions.

The Clifford Chance team advising PFI and PGIM is led by Imogen Ainsworth and Lily Marcel alongside Simon Crown, Richard Kalaher, Rebecca Pereira and Caitlin Haynes.

Press contact: Chanelle Mutawe