Barclays announces sale of Barclays Private Equity

RNS Number : 9114R

Barclays PLC

11 November 2011

 



11 November 2011

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.

ENDS

For further information please contact:

Media Relations

Jon Laycock, Corporate Communications, Barclays Capital                            [phone]

Giles Croot, Director, Media Relations, Barclays                                            [phone]

Investor Relations

Charlie Rozes, Head of Investor Relations                                                        [phone]

About Barclays

Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia.  With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 145,000 people.  Barclays moves, lends, invests and protects money for customers and clients worldwide. For further information about Barclays, please visit our website www.barclays.com.

 

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