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PIC completes three buy-ins worth £900m with Baker Hughes
Written by Adam Cadle
26/06/2025
PIC has concluded three simultaneous buy-ins worth £900m with three schemes sponsored by energy technology company, Baker Hughes.
The buy-ins, covering the Baker Hughes (UK) Pension Plan, the Brush Group Pension Scheme, and the Pipeline Integrity International (PII) Group Pension Scheme, secure the pensions of over 3,000 pensioner and dependants, and nearly 4,000 deferred members.
Matt Richards, head of origination structuring at PIC, said: “It’s very rewarding having concluded these buy-ins with Baker Hughes. Each of the schemes covered had specific requirements that needed specialist structuring. It’s thanks to the fantastic teamwork of everyone involved that we were able to conclude the deal in a relatively short time frame.”
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