Important News from Partnership

We are pleased to announce that Cinven is to become Partnership’s principal financial investor, having agreed terms to buy out Phoenix Equity Partners, our current majority shareholder.

Cinven is one of Europe’s largest private equity firms, with access to substantial investment funds – they currently have €11 billion of funds under management.  They are investors behind many household names, such as Gondola, the leading casual dining group which encompasses Pizza Express, Ask and Zizzi, as well as Spire Healthcare, the rebranded BUPA hospitals group.

This change of ownership represents a tremendous opportunity for Partnership, our customers, our distribution partners and all of our staff.  In addition to the amount they are investing to buy out existing shareholders, Cinven will also be making a substantial capital injection, which will considerably strengthen what is already a very strong balance sheet, making significant investment in staff, brand, infrastructure and distribution channels.

There will be no changes to the existing management team, who will continue to run the business as they have done in support of our business vision and ambitious growth plans to become the undisputed leader in underwritten annuities, whilst continuing to build on our pre-eminent position in the care market.