Latest news with #PollenStreetCapital
Reuters
2 days ago
- Business
- Reuters
Business lender Shawbrook aims for UK listing this year, FT reports
July 23 (Reuters) - The private equity owners of Shawbrook Bank are moving forward with plans for the 2 billion pounds ($2.71 billion) initial public offering in London this year, the Financial Times reported on Wednesday. BC Partners and Pollen Street Capital, which own the British specialist lender Shawbrook, are preparing to list the company in London as soon as the second half of this year, the report said citing people familiar with the matter. FT had earlier reported that Shawbrook aimed for a 2 billion pounds valuation and had planned a float earlier this year before delays. The small business lender is adding more investment banks to its group of advisers, according to the report. Reuters could not immediately verify the report. BC Partners, Pollen Street and Shawbrook did not immediately respond to a request for comment outside regular business hours. Shawbrook's IPO will be a boost to the UK's capital markets, as a growing number of companies have shelved or shifted plans to list in London in recent years, with fast-fashion major Shein being the latest to walk away. The UK has revamped listing rules to make London more attractive for company listings and fundraising. ($1 = 0.7393 pounds)
Bloomberg
6 days ago
- Business
- Bloomberg
Pollen Street Raises €2 Billion for Private Equity Strategy
Alternative asset manager Pollen Street Capital has raised €2 billion ($2.3 billion) for its private equity strategy, helped by increased appetite for mid-market deals in Europe, particularly from investors in North America. The London-based firm's Private Equity Fund V has secured €1.5 billion in commitments, exceeding its initial target of raising €1 billion, according to a statement reviewed by Bloomberg News. The latest fund is also 85% larger than its predecessor fund that raised £700 million ($943 million) in 2021.
Bloomberg
02-07-2025
- Business
- Bloomberg
EQT, Eurazeo Lead $700 Billion Wave of Firms Expanding in UAE
Private-markets firms managing over $700 billion in assets are joining a growing wave of global investors expanding into the United Arab Emirates, drawn by its deep capital pools and largely unfazed by broader regional tensions. Sweden's EQT AB, France's Eurazeo and UK-based Pollen Street Capital are among those setting up in Abu Dhabi, according to people familiar with the matter. They'll join others including growth equity investor Baron Capital Management and credit-focused hedge fund Silver Point Capital Management, which have recently established a presence in Dubai.
Yahoo
23-06-2025
- Business
- Yahoo
Metro Bank's majority shareholder open for stake sale
Jaime Gilinski Bacal, the principal shareholder of Metro Bank, is assessing the potential sale of his stake and received bids from investors, reported Reuters. Bacal controls a 52.87% interest through Spaldy Investments in the bank. In November 2023, the Colombian billionaire joined the board through a £925m rescue deal, which stabilised the bank, including £325m in equity from Gilinski and £600m in new debt. This follows the misclassification of commercial loans, causing a capital shortfall and triggering a £350m share issue, alongside scrutiny from UK regulators FCA and PRA in 2019. By 2023, a sharp share price drop, due to regulators rejecting a mortgage portfolio capital adjustment, forced emergency capital raising. Recent weeks have seen private equity firms Pollen Street Capital and BC Partners extend an offer for Metro Bank. However, the bid was not successful, with disagreements over valuation and rejection by the bank's board, the Reuter's report said. The possibility of a merger with another financial entity is also being considered as a potential avenue for Gilinski to expand Metro Bank's operations. Gilinski has previously indicated that there are opportunities for the bank's growth. Representatives for Gilinski, as well as Metro Bank, BC Partners, and Pollen Street Capital, have declined to comment on the speculation. Earlier reports in 2023 suggested that Shawbrook had contemplated an offer for Metro Bank. A takeover by Pollen Street and BC Partners could have potentially set the stage for a combination between Metro Bank and Shawbrook, the latter being part of the private equity firms' portfolio. Shawbrook has not provided any comments on the discussions. Initial reports of Pollen Street's interest in Metro Bank were brought to light by Sky News. Reuters has since disclosed BC Partners' involvement and the non-acceptance of the joint bid. "Metro Bank's majority shareholder open for stake sale – report " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Times
17-06-2025
- Business
- Times
Takeover talk grips UK banking with Santander, TSB and Metro in frame
The City is gearing up for another flurry of banking deals as interest emerges in both Metro Bank and TSB, hot on the heels of persistent takeover speculation around the UK division of Santander. The high street lenders have faced takeover speculation after it was reported that Pollen Street Capital, the private equity firm, had made an approach for Metro Bank, while TSB's Spanish owner solicits fresh offers for its UK banking franchise. It follows a round of consolidation in the banking sector last year when Nationwide sealed a £2.9 billion merger with Virgin Money, and Coventry Building Society bought the Co-op Bank for £780 million. NatWest also acquired most of Sainsbury's banking operations for £125 million andBarclays agreed to buy Tesco Bank's credit cards, loans and savings accounts for £600 million.
