Barclays to sell equity business
BARCLAYS is poised to spin out its private equity arm this summer with a sale to the division’s management.
The bank will make only a small sum from the deal but the move will allow it to say it is focusing on core businesses.
Private equity investments have come under the regulatory spotlight recently, although talks between Barclays, investors and the division’s management are believed to have been going on for more than a year.
A spin-out would give management the go-ahead to raise up to £1.7billion for its next fund.