Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension schemes, will invest up to £200 mln (€230 mln) in equity to fund the development and operation of around 10 new retirement communities across the UK.
Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension schemes, will invest up to £200 mln (€230 mln) in equity to fund the development and operation of around 10 new retirement communities across the UK.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.