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Home» Business»Standard Chartered mulls spinning out PE business: Bloomberg

Standard Chartered mulls spinning out PE business: Bloomberg

Saheli 16 Sep 2016 Business Comments Off on Standard Chartered mulls spinning out PE business: Bloomberg 237 Views

A woman walks down the stairs of the Standard Chartered headquarters in Hong Kong, October 13, 2010. REUTERS/Bobby Yip/File Photo

Standard Chartered Plc (STAN.L) is considering spinning out its private equity business to its managers, Bloomberg reported on Friday, citing two people familiar with the matter.

The unit’s managers, led by Joseph Stevens, would take control of a business that oversees about $5 billion of assets, Bloomberg reported.

“The Group is looking at non-core businesses, or those that do not sit within our tightened risk tolerance. We are not commenting on any specific businesses beyond those we have already disclosed,” a company spokesperson said in an emailed statement.

Reuters reported earlier on Friday that PE firms such as Standard Chartered and Carlyle Group (CG.O) are shrinking their PE teams in Africa.

[Source:-Reuters]

Bloomberg business Chartered mulls Out PE spinning Standard 2016-09-16
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