Barclays announces sale of Barclays Private Equity to its management team
Barclays Bank PLC ("Barclays") has agreed to sell the management company and associated companies forming Barclays Capital's management buy-out business, Barclays Private Equity, to its management team who are re-launching the business as Equistone Partners Europe ("Equistone").
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.
The value of the gross assets disposed of is expected to be approximately £45 million. The transaction is not expected to have a material impact on Barclays earnings per share or capital ratios.
