Barclays sells off private equity business

Barclays Capital has agreed to sell the management company of Barclays Private Equity, a mid-market private equity firm, to Equistone Partners Europe.

Under the terms of the management buyout, Equistone will take over the management of BPE Funds I, II and III. Barclays Capital will remain invested in these funds alongside a wide range of global institutional investors. The ownership of the investment portfolio of the prior funds remains unchanged.

Equistone will continue with BPE’s strategy of supporting buyouts of developing businesses with strong growth potential and leading market positions. Equistone will continue to operate from its six offices in France, Germany, Switzerland and the UK, with a team of 35 professionals in local country teams responsible for deal origination and portfolio monitoring.

At BPE, the Equistone team built a track record of 30 years of managing private equity investments in businesses with enterprise values between €50m and €300m. BPE was focused on backing management buyouts. From 1996, BPE has invested €5.3bn in 214 transactions.

Guillaume Jacqueau, managing partner of Equistone said: “Our team’s successful investment track record has been established over many years by a consistent focus on identifying and partnering with winning management teams in the European mid- market to achieve long term growth and impressive returns for our investors.

“This strong track record means Equistone is well positioned from the outset to capitalise on continuing investment opportunities in Western Europe as an independent investment firm.”

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