Barclays Africa has offloaded its 73.3% stake in Absa Capital Private Equity Fund to a consortium consisting of HarbourVest and Coller Capital.
The sale is part of Barclays Africa’s efforts to minimize private equity exposure and bolster its balance sheets to meet stringent capital requirements proposed by the Basel committee.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The value of the deal was not disclosed. However a report on Moneyweb indicates that the carrying value of the stake was R2.3 billion on 31 December 2013.
Barclays Africa was formed after Absa, South Africa’s biggest retail bank, bought the African assets of parent company, Barclays, in a multi-billion rand deal last year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
