Pension Corporation in cash call

Pension buyout and insurance firm Pension Corporation is hoping to secure £400m from new and existing investors in a fresh capital-raising exercise, it is understood. JPMorgan, which is managing the cash call, may put in some money itself, after it built a five per cent stake in the company in its last capital-raising last year. The money would be used to fund deals to take over the liabilities of closed pension schemes, pension books, or deferred pensions.