24th Jun 2015 05:48
LONDON (Alliance News) - Barclays PLC is understood to have sealed a management buyout of its energy and commodity-focused private equity arm, having struggled to secure an external buyer for the business, the Financial Times reported on Tuesday.
The deal, set to be announced in coming weeks, would still leave Barclays trying to sell around USD1 billion of investments in its private equity portfolio, the FT said.
Barclays Natural Resources Investment is to be acquired by its managers, led by Chief Executive Mark Brown, as it is spun out from the bank in coming months and seeks to raise new funding from third-party investors.
http://next.ft.com/06e3043a-198c-11e5-8201-cbdb03d71480
By Sam Unsted; [email protected]; @SamUAtAlliance
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