Chris Witkowsky’s Post

Going through corporate transactions, mergers & acquisitions (M&A) and refinancing can be an unsettling time for all. Louise Webb and Kevin Dolan from the specialist team have been revisiting in particular the effects M&A has on pension schemes; and the key considerations employers should be aware of. If any of this sounds familiar, then we can help. Please get in touch with Louise, Kevin or any of the team for further information: Mike Birch, James Chalk, Tom Stockley. #Vidett #CorporateTransactions #MergersAndAcquisitions #Refinancing #WeCanHelp

US institutional investors are selling more of their private equity holdings at a discount as they cut exposure to the illiquid asset class. Led by pension funds and endowments, big investors sold 99 per cent of their private equity holdings at or below their net asset value on the secondary market last year, according to Jefferies, the most since the investment bank began tracking the figure in 2017. The figures were 95 per cent in 2022 and 73 per cent in 2021. Investors have been forced to increase their use of the secondary market as stock listings and mergers and acquisitions — traditional avenues for private equity investors to exit businesses — have recently been subdued.

Is the UK deals market really set to rebound this year? It seems to depend on who you ask. But one thing that is certain is the need to consider the impact of corporate transactions on pension schemes - which the Vidett Limited Transactions and Restructuring team can help you with.

One of the big early processes to watch as #privateequity secondaries kicks off 2024 in busy fashion (unlike last year): Washington State's massive public pension system is shopping a large portfolio of PE fund stakes. The system tried to do a secondary sale in 2022 but pulled the process after receiving indications of pricing it considered too low. As pricing has strengthened around LP secondaries (buyout funds average in the 90-95% of NAV range), LPs like Washington State Investment Board will look to take advantage and generate liquidity out of their PE programs that have been slow to distribute in the sluggish exit environment. LP secondaries led volume last year, and could be on track again, though GP-led inventory is said to be massive. What are you seeing? Hit me up. And read more here on Buyouts: https://lnkd.in/eZB5wVgE

Evidence that the #bulkannuity market is ever changing... and cover it we did on our webinar this morning. Everyone loves breaking news on the day of a live webinar!

Big changes are coming to Australia's superannuation landscape in 2024! From Mine Super and TWUSUPER to AvSuper and ART, learn how these mega mergers are poised to reshape the future of retirement savings for Australians. Dive into the details of what this means for members and the industry at large. Read more: https://lnkd.in/gjhcuhYh

Mergers and Acquisitions (M&A) involving DB pension schemes can be tricky to navigate, with careful planning and consideration needed to protect the scheme’s position, mitigate risk and also allow the opportunity to create value. M&G’s Additional Funding Solution (AFS) may be a suitable solution to help with these concerns. Watch the short clip below to find out how AFS can support the aims of trustees and the sponsor / potential sponsor in a M&A scenario. This is only intended for advisers for pension schemes and/or scheme Trustees, Sponsors and Trusts. It’s not for retail customers or scheme policyholders. This is for information only and is not advice or a recommendation. #definedbenefitschemes #definedbenefitsolutions #pensionschemes

Consolidation is happening in the #mastertrust space - but it takes a lot of time and effort. Cushon's master trust has merged in the Workers #Pension Trust it acquired in 2021, the first time two authorised master trusts have merged. Potentially good news for members who may benefit from economies of scale and better value for money. My question is: With government and the regulator putting pressure on schemes to consolidate, do policymakers need to rein in their expectations about how long full mergers will take? I've seen some bold predictions of dramatic reductions in the numbers of master trusts operating in the UK over the next few years, but there are a lot of operational hurdles to negotiate each time a deal is struck. What do people think? https://lnkd.in/eAQsER2k

Pensions are a nuisance for employers and the Government; in a rapidly ageing society the financial burden of provision is a major concern for the latter and a capitalist no-no for the former. TPR is an agent of the Government who’s brief is to ensure that hordes of over 65s don’t become destitute and a fiscal drain on future (and dwindling) taxation revenues. This is why the big picture is to place pension liabilities (DB and DC) in the hands of a few behemoths who, much like the (former) high street banks, are too big to fail………. until one does. Once a scheme is bought out, and each member has their own individual policy, the trustee board will no longer exist. Therefore, there is no accountability for its former decisions, and little wonder that the stampede to insure is such an attractive and lucrative proposition for professional trustees.

As we welcome 2024, we at Private Pension Partners want to take a moment to celebrate our achievements from the past year. Our focus on strategic growth and value creation has led to some significant milestones: 𝗔𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻𝘀: Completed $306 million in key property acquisitions to diversify and strengthen our apartment portfolio. 𝗘𝗾𝘂𝗶𝘁𝘆 𝗜𝘀𝘀𝘂𝗲𝗱: Issued an impressive $107 million of new equity demonstrating strong investor confidence including an anchor $40M contribution to A+ REIT from one of Manitoba’s largest pension funds, enabling further strategic investments for the growth of the fund. 𝗖𝗼𝗻𝘀𝗼𝗹𝗶𝗱𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗠𝗮𝗷𝗼𝗿 𝗖𝗼-𝗼𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽𝘀: The elimination of major co-ownership interests in A+ REIT throughout 2023 has led to further improvement in our operational control and efficiency. 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗙𝘂𝗻𝗱 𝗟𝗮𝘂𝗻𝗰𝗵𝗲𝗱: Expanded into the industrial asset class with the launch of P3 Industrial One LP, a development-oriented fund with a targeted completion scale of 280,000sf across a seven (7) year build period. We extend our sincere gratitude to our team, investors, and clients for their unwavering support. Looking forward to continued success and growth in the upcoming year. #realestate #multifamily #yearinreview #investments