Phoenix Group today announced that it has completed a multi-million pound debt investment in Semperian PPP Investment Partners Limited. Phoenix, Europe’s largest consolidator of heritage funds has provided £47 million funding to Semperian. Aberdeen Standard Investments originated and executed the transaction on behalf of Phoenix.

Under the terms of the deal, Semperian will use the proceeds to finance the purchase of new Public Private Partnerships (“PPP”) assets and infrastructure investments.

Craig Baker, Phoenix’s Head of Investment Management, Performance and Relationships, said, “This deal demonstrates Phoenix’s strategic commitment to the private infrastructure debt market which provides regular, stable and long-term cash flows to match Phoenix’s annuity liabilities. Phoenix is especially pleased with this opportunity to provide financing to Semperian to support their investment in new PPP assets.”

Jeremy Allcock, Aberdeen Standard Investments’ Head of Infrastructure Debt, said, “This was an opportunity to use our long term relationship with Semperian to source an investment that will deliver a sustainable stream of cash flows for Phoenix.”

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Enquiries

Shellie Wells
Head of Corporate Communications
Phoenix Group
020 3735 0922 / 07872 414 137
shellie.wells@thephoenixgroup.com

Darcy LillieMedia
Relations Consultant
Phoenix Group
020 3735 0102 / 07814 773 280
darcy.lillie@thephoenixgroup.com

Notes to editors

Phoenix Group is a European life consolidator, specialising in the acquisition and management of closed life insurance and pension funds – known as heritage books. Phoenix is the largest consolidator of heritage life insurance books in Europe but also runs an open book underpinned by a strategic partnership with Standard Life Aberdeen. The Group is a member of the FTSE 250 index, and has over 10.4 million policyholders and £240 billion of assets under management – including the recently acquired Standard Life Assurance business. With operations in the United Kingdom, Ireland and Germany, the Group has five operating life companies which hold policyholder assets, and a distribution business, SunLife Limited.