London-based life insurer Standard Life announced on Thursday that it has reached an agreement with private equity firms CVC Capital Partners, Goldman Sachs, and PGIM, the asset management arm of Prudential Financial, to invest in private market assets offered by these companies. Standard Life stated that this collaboration will help it expand its business of taking over the management of defined benefit pension plans from companies, leveraging the UK's over trillion-dollar pension assets as a funding source for private credit.