Aon Seeks to Fund Its Pension With Interest in Private Equity Fund

Aon Corp. wants to fund its pension plan by giving the plan the partnership interest Aon holds in a private equity fund, and it’s asking for the Department of Labor’s permission to do so.

The Labor Department on April 13 made public Aon’s request for a prohibited transaction exemption that would allow the Chicago-based company to transfer to its pension plan a 3.5 percent interest the company holds in a private equity fund managed by Stone Point Capital LLC. Aon must get the DOL’s approval to do so because the transaction would otherwise violate provisions of the Employee Retirement Income ...