Phoenix Group Invests £75M in Worley Marking Expansion into Australian Private Debt Market
Phoenix Group, a leading UK long-term savings and retirement business, has announced a £75 million private debt investment in Worley, an Australian global professional services company specializing in energy, chemicals, and resources. This transaction marks Phoenix's inaugural private market investment in Australia, emphasizing its strategic expansion into the APAC region. Worley's diversified operations across 45 countries and its robust financial performance were key factors in Phoenix's decision to invest.
The investment aligns with Phoenix Group’s broader strategy of global diversification and sustainability-driven financing, particularly within the energy transition and infrastructure sectors. The bespoke bilateral deal structure offers Phoenix attractive returns and prudent risk management, reflecting the firm's growing expertise and direct origination capabilities in private debt markets.
Australia presents a favorable investment environment due to its strong regulatory framework and strategic position within APAC, making it a critical gateway for Phoenix's expanding private credit portfolio. The collaboration underscores evolving cross-border capital flows between the UK and Australia, reinforced by recent trade agreements and mutual interests in energy transition financing.
Within the last two years, Phoenix Group has directly executed £1.5 billion in private transactions, with private credit constituting a major component of its asset allocation. The company continues to develop its private markets platform, recently originating close to £800 million in transactions in the first half of 2025, demonstrating increasing reliance on direct deal sourcing.
Phoenix Group manages approximately £290 billion in assets and serves 12 million customers through its diversified family of brands including Standard Life, SunLife, Phoenix Life, and ReAssure. Its investment approach incorporates sustainability goals, targeting net zero carbon operations by 2025 and significant emissions reductions across its investment portfolio by 2030. This investment with Worley supports both its financial objectives and broader commitment to sustainable infrastructure and energy projects globally.