City Of London
Phoenix Group Ramps Up Private Equity Bets In Bid to Boost Returns
- The firm will increase its PE holdings over the next few years
- UK plans to reform Solvency II behind the change in strategy
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Phoenix Group Holdings is planning to capitalize on looser government regulations and allocate more capital to private equity to juice returns.
Phoenix, which buys portfolios of old policies from legacy insurers, is planning to increase its holdings of private equity assets from “small single digit billions” to “tens of billions” over the next three to five years, James Mitchell, head of strategic partnerships & research, said in an interview.