Barclays plans to sell asset management business

Barclays Global Investment Corporation (BGI), Barclays, which plans to sell its asset management business, has begun negotiations. The US private equity giant Blackstone Group is one of the potential bidders for Barclays to sell BGI at $10 billion, the Financial Times reported 15th. BGI manages up to 1 of the assets. 4 trillion dollars.　　For Blackstone, the acquisition of BGI will significantly boost its trading fund business on the exchange, a sector that is very popular in asset management. Just last month, Barclays sold BGI's burgeoning fund unit ishares to Europe's biggest private-equity fund--CVC Capital Partnership at $4.2 billion trillion. However, according to the terms of the deal, Barclays can also find other buyers for ishares before June 18. But once the bank chooses other buyers, it must pay up to 1 of the CVC Capital Partnership.　　7.5 Billion dollar transaction termination fee. To rebuild its balance sheet, Barclays refused to accept emergency bailout money from the British government, but instead raised its level by raising funds and selling assets to Middle Eastern investors. According to analysts here, Barclays ' first-tier core capital adequacy ratio will rise to 7 if the ishares sale is counted. 2%, if the BGI is sold smoothly, the figure is expected to rise to close to 8%. (Chen Wenxian)