Better Business / Member news
Burges Salmon advises on landmark capital-backed pension deal
Award-winning law firm Burges Salmon has advised the trustee of the James Neill Pension Plan and sponsor James Neill Holdings on completing one of only the UK’s second Capital Backed Investment (CBI) pension deals.
The transaction, completed with Portunes Pension Capital, is designed to support the pension scheme’s long-term funding goals while allowing it to maintain its existing investment strategy.
Under the arrangement, the Plan and Portunes invest alongside each other over a set period, with the scheme benefiting from a senior-ranking payout backed by external capital.
CBIs are an emerging approach in the pensions sector, helping schemes reduce investment volatility and strengthen long-term funding positions while retaining flexibility over existing assets.
Burges Salmon, with its headquarters in Bristol, has advised the trustee of the James Neill Pension Plan on a landmark capital-backed pension deal
Burges Salmon, with its headquarters in Bristol, led on legal advice for the trustee and employer, working alongside advisers including Fieldfisher, Gallagher, Schroders, Carey Olsen and Ogier.
Clive Pugh, partner at Burges Salmon, said: “This transaction highlights the increasing maturity of capital-backed solutions in the UK pensions market and the important role they can play in helping schemes manage risk while maintaining investment flexibility.
“We were delighted to support the trustee of the James Neill Pension Plan and James Neill Holdings Limited on this complex and innovative transaction, working closely with all parties to deliver a structure that meets their long-term objectives.”
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Antony Miller, Aretas trustees, added: “The successful completion of this transaction represents an important step forward for the Plan and demonstrates the value of innovative funding solutions in today’s pensions landscape.
“We are grateful to Burges Salmon for their clear, pragmatic advice and strong understanding of the sector throughout the process.”
All photos: Burges Salmon
Burges Salmon are member of the Bristol24/7 Better Business network, an initiative to help businesses thrive while creating a positive impact on Bristol and the people who live here. As part of their membership, businesses can publish member news stories like this. For more information, visit my.bristol247.com/better-business
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