Pension Corporation seeks £400m acquisition funds

Plans to aquire pensions and annuity transfer specialist Synesis have already been confirmed as part of the firm's fundraising bid, which follows an initial investment from JPMorgan. It says it also seeking cash from existing investors before marketing its fundraising to new clients in January 2009. Pension Corporation will use some of the capital to buy the assets of Synesis, along with key members of its team, which it believes will enhance its skills in the pension solutions arena. Edmund Truell, chief executive of Pension Corporation, says: The extra capital we are raising, led by...