Barclays Plc is nearing a deal to acquire Kensington Mortgage’s lending platform for specialized mortgage loans, according to people familiar with the matter.
Barclays is in exclusive talks and a deal could be reached in the coming weeks, they said, asking not to be identified because the talks are still private. Any deal could value the business at more than £400 million ($500 million), the people said.
Kensington’s owners, private equity giant Blackstone Inc. and Sixth Street, are also selling the remaining part of the business, which is a run-off portfolio. Blackstone and private equity house TPG acquired Kensington from South African bank Investec Plc in 2014, when Sixth Street was part of TPG.
Read more: BNN Bloomberg
