AltAssets reported on November 18, 2010 that Barclays plc has agreed to a management buyout of Barclays Private Equity in return for a share of future profits.
AltAssets reported on November 18, 2010 that British bank Barclays plc has agreed to a management buyout of its middle market buyout arm, Barclays Private Equity. The deal is unique with respect to other private equity spin-outs in that Barclays will neither put a price on the deal nor demand an upfront cash payment. Instead, the terms of the deal will stipulate that the bank be paid a share of future profits. The separation is expected to take place next year, once Barclays Private Equity has completed a first closing of its new €1.5 billion fund.
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