UK pension insurers raise exposure to opaque private credit

UK pension insurers are increasingly investing in opaque private credit assets, which are hard to price and now make up over 10% of portfolios at major firms like Legal & General, Standard Life, and Just Group. S&P has issued a warning about these complex assets, highlighting potential risks that could affect the stability of pension funds. This trend is significant because it raises questions about the transparency and valuation of these investments, potentially impacting the long-term financial security of pension recipients.