Middle East wealth fund to buy stake in this pensions giant?

Here’s what the report says

A Middle East sovereign wealth fund is reportedly close to buying a stake in one of the UK’s biggest pension buyout firms.

Sky News reports that the Abu Dhabi Investment Authority (ADIA) has entered exclusive talks ‎to acquire JC Flowers’ 21.4 per cent shareholding in Pension Insurance Corporation (PIC).

The deal, which could be struck in the coming weeks, is expected to value PIC at about £3bn.