Wellington raises stake in outsourcer Capita
UK – Asset management firm Wellington Management Co. has increased its stake in Capita Group, which provides pension outsourcing to companies such as utilities firm RWE and supermarket group Safeway.
The Boston-based firm now holds now 3.18% of the UK business process outsourcing group, according to a stock exchange filing.
A spokeswoman for Capita told IPE Wellington has so far held less than three percent of its shares and therefore was not obliged to disclose its holding in the company, which is quoted on the London Stock Exchange and is a constituent of the FTSE 100.
Earlier this month Capita lost out as the Metropolitan Police Authority selected LogicaCMG and Paymaster to provide pensions and payroll administration. Capita had been the supplier since the late 1990s.
In March, in-house pensions administration staff at a UK arm of German utility RWE were offered voluntary redundancy amid an outsourcing deal with Capita Hartshead.
And the month before saw jobs at supermarket chain Safeway’s roughly 20-strong pensions team go the company transferred administration to Capita Hartshead.
Last week the pension and benefits outsourcing business of Hogg Robinson has been sold to private equity firm Duke Street Capital for an undisclosed sum.