GLG, Lansdowne, Private Equity Firms Eye RBS Bank Branches

Apr 9 2013 | 10:11am ET

Two hedge funds that profited handsomely by betting against British banks are seeking to compound those gains by acquiring branches from one of the hardest hit, the Royal Bank of Scotland Group.

The Man Group's GLG Partners and Lansdowne Partners have indicated their interest in buying RBS' 316-branch network in the U.K., according to SkyNews. Some 20 institutions, including several British pension funds, F&C Asset Management, Schroders and Threadneedle, have also expressed interest, as have private equity firms Corsair Capital and Centerbridge Capital Partners.

A third, unidentified private-equity consortium also plans a bid, according to Sky.

RBS is selling the branches at the behest of the British government, which owns the majority of the lender following a 2008 bailout.

Sky reports that GLG's interest is more advanced than Lansdowne's. Should either win the branches, they would be acquired by a new company set up for the purpose, which would then be listed publicly.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR