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August 27, 2019

Tussle for KPMG’s UK pensions advisory unit goes into round two

Investment consultancy partnership Lane Clark and Peacock (LCP) is reported to be among the shortlisted handful of potential bidders for KPMG’s pensions advisory arm in a second round of bidding.

Sky News has reported that LCP is prepping £200m bid for the unit. Initial valuations bandied around in the trade press in July were around the £120m mark.

LCP, backed by mid-market private equity firm Inflexion, reported a record income of £114.9m in its latest annual report, an 8.5% increase from 2017/18.

KPMG’s pensions division has some £50bn under advice and employees 20 partners and around 450 staff.

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