Eton Park joins Paternoster to cut itself a bigger slice of the UK pension pie

Mark Wood had no shortage of backers to choose from when he was establishing Paternoster Assurance, an insurance firm start-up that raised £500m from a consortium including Eton Park, alongside other, unnamed, European hedge funds, and Deutsche Bank and Numis Corporation.

After all, the UK pension buy-out business Paternoster will work in is hardly crowded, with only Legal & General and the Prudential to compete against at the moment, in a defined-benefit market worth an estimated £1bn, and

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