Advising LCP and Charterhouse on the acquisition of Aon’s Retirement and Investment Business in Germany

The transaction with Aon is contingent on the completion of the pending Aon and Willis Towers Watson combination, as well as other customary closing conditions. The business provides a full suite of services including pension consulting, administration and pension insurance brokerage, and is one of the top three players in the German market, which is itself the largest market in the world for actuarial advisory work after the U.S. and the UK. The business employs 350 people and has offices in 5 locations.

The acquisition will transform LCP into one of the largest pension consultancies in Germany and follows on from a period of growth at LCP, which posted a record income of £126.5m during the financial year 2019/20, an increase of 10.1% driven by success across the pensions, investments, insurance, energy and health sectors.

The Allen & Overy team was led by partners Dr Michiel Huizinga (Corporate/Private Equity, Frankfurt) and Dr Jan Schröder (Corporate/Insurance, Düsseldorf). It also comprised partners Dr Börries Ahrens (Antitrust, Hamburg), Dr Magnus Müller (Tax, Munich), Dr Udo Herbert Olgemöller (Public Law), Dr Sven Prüfer (Corporate/Restructuring, both Frankfurt) and Dr Jens Matthes (IP, Düsseldorf), the counsels Peter Wehner (Pensions), Boris Blunck (Employment), Dr Tim Müller (Compliance, all Frankfurt), Anne Fischer and Dr Achim Schmid (both Corporate/Insurance, Düsseldorf) and Lennart Dahmen (Capital Markets, Frankfurt).

The team furthermore consisted of senior associates Dr Tina Gausling (Data Protection, Munich), Dr Marcus Grühn (Real Estate, Hamburg), Robert Jochim (Corporate/M&A, Frankfurt), Dr Marcus Mackensen (Corporate/M&A, Hamburg), Catharina Glugla (Data Protection, Düsseldorf), Dr Ioannis Thanos (Antitrust, Hamburg) and Dr Jens Denninger (Tax, München) as well as associates Laura Reuther (Corporate/Private Equity, Frankfurt), Anna Kraeling (IT), Meike Radtke (Corporate/Insurance, both Düsseldorf), Denise Kammerer (Corporate/M&A), Adrian Lingens (Corporate/Restructuring, all Frankfurt), Sören Burdinski and Dr Philipp Steinhaeuser (both Antitrust, Hamburg).