Barclays to Sell Private-Equity Unit Equistone to Management

Barclays Plc, Britain’s second-largest lender by assets, agreed to sell Barclays Private Equity to its management team for an undisclosed amount.

The business that oversees the investments will be renamed Equistone Partners Europe, London-based Barclays said in a statement today. The value of the management company sold will be about 45 million pounds ($71.7 million) and the transaction isn’t expected to have a “material impact on Barclays’s earnings per share or capital ratios,” the lender said.