Barclays May Be Selling PE Business – Report

(Reuters) – Britain’s Barclays is considering selling its private equity arm to a management consortium in a move to raise capital for the bank, the Mail on Sunday newspaper reported.

The group’s investment banking arm Barclays Capital could spin off the private equity division into a new company controlled by its current management, the report said, allowing it to sell down a string of investments to release funds.

A spokesman for BarCap declined to comment. (Reporting by John Bowker; editing by Simon Jessop)