On the go: KPMG has confirmed that it is in exclusive talks with private equity firm Exponent to offload its pensions arm.
Commenting on the news broken by Sky Business on rumours of a sale tag in excess of £200bn, a spokesperson for KPMG told Pensions Expert: “Following significant interest in our market-leading pensions practice, we can confirm we have entered into exclusive talks with Exponent with a view to progressing a sale.”
He concluded: “We will not comment further while negotiations remain ongoing.”
KPMG advises companies with pension assets valued in total at more than £50bn. The division is one of KPMG’s largest units, and has about 20 UK-based partners working for it, employing around 450 people.
Exponent’s 30-company strong investment portfolio includes stakes in Ambassador Theatre Group, Trainline and the Racing Post.
