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Barclays could sell natural resources private equity division

9 Jul 2014

waterfall-close-up-1433236-mBarclays has reportedly hired an unnamed adviser to help the firm sell off its natural resource-focused private-equity unit.

The deal could value Barclays Natural Resource Investments at $1bn to $1.4bn according to three sources speaking to Bloomberg, although a source close to Barclays says this figure is ‘frankly bizarre’.

BNRI has committed more than $2bn to more than 20 companies and teams since it was launched in 2006.

The most recently acquired companies in its portfolio include US-based Continental Intermodal and Norway’s Tellus Petroleum, which are oil and gas firms, and African metals & mining business Imalivest.

BNRI invests in growth equity with a strategy of identifying experienced entrepreneurs and proven management teams to form a new portfolio company with them.

The unit signed a £153m co-investment deal with Qatar Asset Management Company, a joint venture between the country’s sovereign wealth fund and Qatar Financial Centre, in April 2012. At the timeQatar owned a 6.8 per cent stake in the British multinational bank.

Barclays declined to comment on the story.

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