Mantle Services has partnered with Utmost Life and Pensions to support its entry into the bulk purchase annuity (BPA) market.

Utmost appointed Mantle in Q3 2024 to support its BPA offering, which aimed to address the demand for pension risk transfer in the UK. As part of the agreement, Mantle will provide end-to-end support through every stage of the risk transfer process, including quotations, buy-in administration and in-house administration services upon buyout. Mantle's software will also be used for actuarial reporting on successful deals and to provide software that allows policyholders to calculate benefits, access their data, and make their own choices. Mantle managing director, James Whittingham, said partnering with Utmost represented a "key milestone" in the growth of our business, adding: "This long-term, fully integrated partnership with a trusted and reliable pensions provider is a testament to the versatility of our software platform and the positive experiences it can deliver for policyholders. We hope that Mantle's technological enhancements will serve as a positive differentiator for Utmost and help drive the business's commercial value in the next phase of its growth."

M&G Investments has acquired a majority stake in the European private credit business P Capital Partners (PCP).

PCP will become part of M&G Investments' £73bn private markets business alongside its existing £19bn private and structured credit teams. M&G Investments will acquire 70 per cent of PCP, with its management retaining the remaining equity stake following the transaction. There will be no changes to PCP's management team or investment strategies, and the transaction is expected to close in mid-2025, subject to regulatory approvals. M&G Investments chief executive officer, Joseph Pinto, commented on the deal: "This acquisition of a majority stake in PCP is in line with our growth strategy in private markets where we have the ambition to become the European champion. PCP's capability in the corporate non-sponsor sector and 20-year track record will offer our clients access to a wider range of differentiated offerings and improve our ability to better serve clients. Combined with our scale and distribution reach, it is a powerful, highly effective and distinctive combination."

Wayhome has announced a strategic partnership with Venn, an investment manager specialising in European residential real estate.

The partnership will see Venn invest in Wayhome and become the new AIFM (fund manager) for its homeownership solution, including creating a new fund vehicle for future investments. The partnership also sees Venn co-founder and managing partner, Gary McKenzie-Smith, join the Wayhome Board. Wayhome CEO, Nigel Purves, said that Venn's credentials in residential property "speak for themselves”, continuing: "We are delighted to welcome Venn as a strategic partner and to have Gary join our board. Venn's expertise, guidance, and counsel will be invaluable as we secure further investment in our gradual homeownership product, which provides a compelling investment opportunity for institutional investors while helping people get on the housing ladder."

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