The portfolio includes investments in private equity funds as well as several direct private equity interests held by Barclays Capital. The portfolio does not include any investments managed by Barclays Private Equity.
According to Barclays, the sale of this portfolio has been agreed in anticipation of new regulations impacting the cost to banks of holding private equity investments and their future returns.
The purchase price for the portfolio exceeds the book value and the sale is expected to result in a small profit on disposal and a small increase in Core Tier One capital, Barclays said.
Barclays Group finance director Chris Lucas said this transaction is further evidence that Barclays is delivering on its commitment to increase its balance sheet efficiency.
"We are pleased with this transaction and continue to look for similar opportunities going forward," Barclays added.
