Barclays PE spin-off gains clarity

It is believed that the transaction will not see any upfront payment, as is usually case in spin-outs. Instead, the deal will see management paying the lender a share of future profits over a fixed period of several years.

BPE has €4bn worth of assets under management and, according to reports, Barclays may have been forced to accept a lower price for the buyout arm as a result of the financial crisis.

The spin out will take place next year after the first close of BPE's next fund, which aims to raise €1.5bn. It is also the first time Barclays will not be investing in its fund.

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• Barclays Private Equity
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