Barclays to sell Barclays Private Equity to management for £45m
Barclays Bank is to sell the management company and associated companies which form Barclays Capital's management buy-out business, Barclays Private Equity, to its management team.
Barclays Bank is to sell the management company and associated companies which form Barclays Capital's management buy-out business, Barclays Private Equity, to its management team.
The management team will then re-launch the business as Equistone Partners Europe.
In a statement, the firm said: "Equistone will continue to manage its existing three funds on behalf of its existing investors in those funds. Barclays remains an investor alongside those funds and the largest single investor in Equistone's investments to date.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The value of the gross assets disposed of is expected to be approximately £45m. The transaction is not expected to have a material impact on Barclays earnings per share or capital ratios."
NR
-
RICS: Property listings rise, but buyer demand cools
New listings are putting a spring in the step of the UK housing market – but where have the buyers gone? We delve into the latest Royal Institution of Chartered Surveyors (RICS) survey
By Ruth Emery Published
-
How to protect your money from the dark web
The dark web has become a hotspot for credit card fraud and other financial crimes. Here’s how you can protect your private details and stay safe
By Oojal Dhanjal Published