French Lender Consider PE Sale

French lender BNP Paribas is considering selling a private-equity portfolio worth more than $700 million, the Financial Times reported on Monday, wrote Reuters. The bank is mulling whether to dispose of more than 50 private-equity fund interests.

(Reuters) – France’s No. 1 bank BNP Paribas is considering selling a private-equity portfolio worth more than $700 million, the Financial Times reported on Monday.

The French lender is mulling whether to dispose of more than 50 private-equity fund interests to take advantage of a surge in demand for such portfolios, the FT reported, citing people close to the situation.

The newspaper said BNP Paribas had not yet made a formal decision and added that the portfolio sale is one of a number of sales options being weighed by Europe’s largest bank by assets.

An array of private-equity portfolios from European and U.S. banks are likely to go up for sale next year, the FT reported, citing people close to the sector.

Germany’s WestLB and its state-backed “bad bank” are close to completing the sale of a portfolio of around 40 U.S. and European private-equity fund interests valued at $500 million to a syndicate of buyers, the newspaper reported, citing people close to the situation.

BNP Paribas and WestLB were not immediately available for comment.