DLA Piper advises Royal London on its largest BPA transaction with Grant Thornton Pensions Fund
DLA Piper has advised Royal London, the UK's largest mutual life, pensions and investments provider, on securing its largest external Bulk Purchase Annuity (BPA) transaction to-date completing a GBP275 million buy-in with the Grant Thornton Pensions Fund.
The transaction secures the benefits of some 2,200 members of the Grant Thornton Pensions Fund. Grant Thornton is a leading multinational professional services network providing assurance, tax, and advisory services to global businesses.
A team from DLA Piper's London office worked on the transaction led by Amrit McLean, partner and head of de-risking. She was supported by senior associate Oritsema Ejuoneatse and trainee solicitor Sophie Parker. The team also comprised of legal director Rozet Shah and trainee solicitor Abbas Kermalli.
Amrit McLean, partner, commented: "Congratulations to Royal London and the Grant Thornton Pensions Fund's trustees on the completion of this significant buy-in. It was a pleasure to collaborate with the Royal London team once again, and to see their 'mutual mindset' in action."