Travers Smith LLP has been appointed as legal adviser to Clara-Pensions and the Trustee of Clara Pension Trust, to act as conflicts counsel.
Clara-Pensions has established a "member first" defined benefit (DB) pension scheme consolidator vehicle, providing a bridge from company sponsored pension schemes to fully insured outcomes. The Travers Smith team will act on transactions when other legal advisers have a conflict. The team includes Pensions Partners Susie Daykin and Paul Stannard and Finance Partner Jonathan Gilmour.
Susie Daykin commented: "We are delighted to be appointed to the legal panel for Clara and the Clara Trustee. The Clara model is an exciting development in our market, offering a genuinely innovative solution for enhancing the security of members' benefits by using patient capital. We look forward to helping Clara and the Clara Trustee to achieve their aims of a successful consolidator fund that fulfils its member-first commitments. "
Clara-Pensions Founder and CEO Adam Saron commented: “We are delighted to appoint Travers Smith to as act as a conflicts counsel. With a growing pipeline of potential transactions there are a number of situations where our existing advisers may be conflicted. Conflicts are managed through preparation and transparency, and Travers Smith have demonstrated that they are well-placed to provide high-quality support to both Clara or our Trustees. We look forward to working with Susie, Paul and Jonathan.”
CMS Cameron McKenna Nabarro Olswang is the existing legal advisers to Clara-Pensions and Eversheds Sutherland is the existing legal advisers to the Clara Pensions Trust.