PRINT THIS PAGE

Barings Private Equity Partners to spin-out from Dutch ING

Barings Private Equity Partners is to spin-out from Dutch financial services group ING. The management buy-out is scheduled to complete by the end of this year.

Barings Private Equity Partners has $2bn of private equity funds under management, including $360m managed on ING's behalf. BPEP will continue to manage ING's existing commitments in Baring Private Equity funds. The firm also revealed that the deal was part of its strategy to focus on its core businesses.

Although no financial details of the transaction have been disclosed, ING has said that it will generate a small profit for the firm.

Turbulent market conditions have meant that private equity has become too volatile for many financial institutions and an increasing number of captive firms have sought independence from ambivalent parent companies over the last year. Firms to have completed spin-out moves recently include Montagu from HSBC, Gresham from Zurich Financial Services, and Banexi Capital from BNP Paribas.

Copyright © 2003 AltAssets