Pinsent Masons advises the Trustee of the Arco pension scheme on £135m transfer to Clara Pensions

The transaction will see 1,281 members of the Scheme transfer to the Clara Pension Trust and was agreed as part of the wider sale process for Arco Limited. It provides greater certainty over the future of the Scheme as the corporate transaction completes.

Involving a full-service team, the transaction was led by pensions partners Andy Wright and Cameron McCulloch and Managing Senior Associate Sara Summerscales, supported by colleagues from across our pensions and finance teams.

Pinsent Masons pensions partner Andy Wright who led on the deal, said: “This transaction demonstrates the growing role superfunds can play in the pensions endgame market, including addressing pension obligations alongside a wider corporate transaction. All parties and their advisers worked collegiately to deliver a positive and innovative outcome.

“As the market develops, trustees and sponsors have an increasingly broad range of options available to secure members’ benefits. There is no single solution that will be right for every scheme, so it is important to consider the full spectrum of endgame options and identify the route that best meets the needs of the scheme, its members and other stakeholders.”

This transaction follows Pinsent Masons’ work advising the Trustee of the Videndum DB Pension Scheme on its transfer to Clara earlier this year and comes amid growing momentum behind superfund solutions in the UK defined benefit pensions market.