On the go: Clara Pensions is seeking to raise between £200m and £300m from new investors, after a first fundraising in 2018.
According to Sky News, the tranche of new funding would not come from Sixth Street Partners, the start-up's original capital backers.
In December 2018, it was announced that credit investment platform Sixth Street was to provide initial capital of £225m, an amount expected to increase to £500m as Clara Pensions grows to scale.
According to Sky, Sixth Street still intends to commit that £275m of further funding, bu it waiting for Clara to get the go-ahead from the Pensions Regulator to start accepting schemes.
That would be in addition to other new investors, with which the consolidator is now in discussions.
Clara aims to consolidate at least £5bn of pension liabilities over the next five years. Its model serves as a bridge to the insured market for UK defined benefit schemes and their members.
When a scheme enters Clara, its assets and liabilities are supported by capital that is provided by both the sponsoring employer and its capital providers with the ultimate aim of buyout. Only once Clara delivers an insured future to every scheme member will its finance partners receive a return on capital.
A spokesperson at Clara declined to comment.
