Barclays Said to Weigh $816 Million Sale of Stakes in LBO Funds

Barclays Plc, the British bank run by Robert Diamond, plans to sell more than 500 million pounds ($816 million) of stakes in private equity funds, five people with knowledge of the talks said.

The holdings were amassed by the bank’s investment-banking unit, Barclays Capital, as part of a drive to help its business that finances leveraged buyouts, said the people, who declined to be identified because the sale isn’t public. Barclays is selling the stakes to free up capital, they said.