Deals
StanChart Markets $1.5 Billion of Private Equity Deals
- Bank seeking investors to back spin off of PE management team
- Proposal aims to conclude 3-year saga to exit loss-making unit
This article is for subscribers only.
Standard Chartered Plc’s three-year saga to exit its loss-making private equity business, which has investments ranging from Jordanian poultry to a Korean restaurant specializing in garlic, has finally reached the endgame.
The bank is seeking investors to purchase the remaining $1.5 billion of private equity assets and back a spinoff of the 55-strong team running the buyout business, according to people with knowledge of the deal, who asked not to be identified as the details are private.