DB superfunds: From niche solution to £180bn market

Market confidence in DB superfunds has been boosted by five high-profile transactions completed by Clara Pensions. Clara’s recent transaction with the Church Mission Society Pension Scheme, in particular, has demonstrated how making use of a ‘connected covenant’ structure can open up the market to a broader range of schemes than was previously thought possible. With the likelihood of more transactions from Clara, along with recent confirmation from The Pensions Regulator that multiple organisations are actively discussing an entry to the superfund market, it is already shaping up to be a busy...