News in brief - 28 February 2025

PensionBee has partnered with ClearScore to enhance savers' financial well-being.

The partnership aims to give consumers greater visibility and control over their financial futures. PensionBee's services will be integrated into ClearScore's 'credit health' section, which presents credit and affordability in a new way, revealing how users are viewed as potential borrowers and outlining factors stopping them from getting credit. The integration will be available this month, providing users seamless access to pension management tools directly within the ClearScore app and website. PensionBee head of partnerships, Jordan Lowe, said: "We are thrilled to grow our partnership with ClearScore to help savers take control of their financial well-being. By integrating our pension services into ClearScore's widely used platform, we aim to make pension management more accessible and straightforward for millions of users."

Aviva Investors has made a £15m venture and growth capital investment in Cambridge Innovation Capital.

Aviva Investors has announced it has made a £15 million investment in Cambridge Innovation Capital (CIC), which specialises in early-stage life sciences and deep tech companies in Cambridge. The investment was made by the Aviva Investors venture & growth capital long-term asset fund (LTAF), which launched in January with an initial commitment of £150 million and aims to give defined contribution (DC) pension funds and wealth markets better access to innovative growth companies. The commitment from Aviva Investors anchors CIC's newly-launched opportunity fund, which has already made its first two investments into Pragmatic and Riverlane. Aviva Investors managing director of venture and strategic capital, Ben Luckett, said: "We are very pleased to complete our latest investment in the Cambridge innovation cluster. CIC has a wealth of expertise in life sciences and deep tech, and it has discovered and supported pioneering companies, which can help the UK prepare for the future whilst putting it at the forefront of global innovation."

The PIC has invested a further £50m in Peel Ports Group.

The Pension Insurance Corporation (PIC) has invested £50 million in Peel Ports Group (the company). The transaction is the second concluded between the PIC and the company, following participation in an earlier funding round, which provided £33 million in 2023. Peel Ports Group invests in sustainable developments across its portfolio, recently announcing several significant projects across the UK. PIC senior debt origination manager, Dr Vladan Martinovic, commented on the deal: "The diversity of cargo transited, their varied customer base, long-term customer contracts, and ability to adapt their product offering makes the UK ports sector resilient through business cycles and therefore an attractive asset for a buy-to-hold investor like PIC. Regular, secure, long-term cashflows match PIC's pension payments stretching decades into the future. We are delighted to be able to support Peel Ports and complete an additional financing that meets their treasury needs."



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