Hedge Funds

Hedge Fund Sells Minority Stake In Co-op Bank To Us Private Equity

by news.yahoo.com posted 4months ago 40 views
The Co-op Bank announced on Wednesday that two US private equity companies have agreed to buy a minority stake in the company from an existing investor. JC Flowers and Bain Capital Credit collectively bought a 10.01% stake of class A shares from BlueMountain Capital — a hedge fund where current Barclays (BARC.L) chief Jes Staley was once a managing director. The transaction, which also gives the pair access to 12.05% of B shares, remains subject to regulatory clearance.

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