Keyhaven, a specialist secondary private equity firm dedicated to the European lower mid-market, completed the acquisition of a minority stake in Pensions Insurance Corporation, a UK insurance company specializing in securing the liabilities of defined benefit pension schemes, to a UK-based family office. Financial terms were not disclosed. “The PIC investment has perfectly illustrated the value of Keyhaven’s nimble approach to structured secondaries transactions. Having sourced the deal through a longstanding relationship with the company’s founder, we were able to provide a swift and effective solution to existing shareholders while securing significant upside potential for ourselves.” Sasha van de Water, Keyhaven Managing Partner.