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
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.