UNQUOTE

EUROPE - BPE spin-off – still no firm agreement

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Following speculation since before Christmas, unquote" can confirm that Barclays Private Equity is indeed inching closer towards independence. Though the firm is "sounding out views of its investors", there is as yet still no agreement in place, according to a spokesman for the firm, and the team is still working on paperwork and figures.

Selling off its private equity arm is thought to be a step towards shoring up Barclays' balance sheet: while the move is unlikely to raise any serious money, it may improve ratios by reducing so-called 'risky investments'.

Barclays Private Equity has been active even as other buyout houses shy away from deals. Just this week the mid-market specialist backed the £64m buyout of marketing firm Bounty from Canadian parent Kaboose by providing £54m equity, and last month it took a majority stake in France's Compin Group

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