European private equity firm Permira has acquired a financial services firm devoted to retirement preparedness, Just Retirement, for $374 million. This marks Permira’s first financial services investment since setting up a sector team devoted to the industry last year.

One of Just Retirement’s unusual offerings is an “enhanced retirement annuity” that takes into account the specific health and lifestyle circumstances of a retirement customer in order to offer better rates than traditional annuity providers. It also offers a U.K. version of a reverse mortgage called an “equity release solution.”

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