Travers Smith has been appointed as a legal adviser for defined benefit pensions consolidation company Clara-Pensions and its trustees, taking a place alongside Eversheds Sutherland and CMS to act for the company.

Clara was set up by U.S. private equity giant TPG and was financially backed by the firm’s credit offshoot TPG Sixth Street Partners with an initial £225 million commitment earlier this year. Travers announced today (August 28) that it had been selected as the conflicts counsel for Clara and its trustees.