U.K. insurer Utmost Life and Pensions has appointed Aberdeen Investments to manage a commercial real estate debt mandate supporting its growing bulk purchase annuity business and broader pension risk-transfer plans, according to Alternative Credit Investor.
Aberdeen has completed the first transaction under the mandate, providing financing secured by a prime, class A office asset in central London. Utmost said access to high-quality private-market assets is an important part of its investment strategy as it expands its bulk purchase annuity business.
