Sydney, May 18, 2022 – Barclays announced today that it has increased its stake in Barrenjoey Capital Partners (“Barrenjoey”) from 9.9% to 18.2% by subscribing 75 million Australian dollars (approximately £42 million) of new capital.
Australia is an important part of Barclays’ strategic growth plans in Asia Pacific. Today’s announcement further strengthens its strategic partnership, providing additional regulatory capital to support the growth of Barrenjoey’s Markets business, including the establishment of its Fixed Income Derivatives and Equity Funding platforms. shares.
As well as accessing Barclays’ leading global distribution network for equities and fixed income, world-class global research and global cross-border and sector expertise, the relationship will also broaden access to Barrenjoey to Barclays leader in credit trading and securitization capabilities.
Paul Compton, Global Head of Corporate and Investment Banking (CIB) and Chairman of Barclays Bank PLC, said, “We are delighted to have the opportunity to increase our shareholding with Barrenjoey. Since our seed investment in September 2020, Barrenjoey management has delivered on their plans and we have a strong working relationship on our respective platforms. Providing global solutions and products to Australian customers is at the heart of our strategic partnership and this investment will only strengthen it further.
Brian Benari, CEO of Barrenjoey, said: “Our strategic partnership with Barclays was instrumental in our early success, leveraging their global investment banking and securities franchises and balance sheet. Importantly, given the rapid growth of our markets business and the launch of our fixed income derivatives and equity finance businesses, Barclays’ investment further reinforces our shared commitment to support our Australian and global clientele.
In September 2020, Barclays invested A$45m (approximately £25m) in Barrenjoey for a 9.99% economic stake and a 4.99% voting stake. The bank has also entered into a cooperation agreement with Barrenjoey covering global product distribution, research, cross-border advisory and debt capital markets, as well as the provision of significant balance sheet capacity to Barrenjoey to support its customers.
Notes for Editors
Barrenjoey is an Australian full-service financial services company. The company, headquartered in Sydney, provides corporate and strategic advisory services, equity and debt capital markets, cash equities, research, as well as traditional fixed income services in Australia.
Barrenjoey and Barclays have to date established a strategic partnership on several key transactions, including:
• September 2021: Brookfield led the AusNet consortium for A$18 billion – Barclays acted as lead arranger, underwriter and bookrunner for A$2 billion bridge acquisition financing Barrenjoey acted as joint buy-side financial advisor
• June 2021: Sale by Brookfield of a 50% stake in the port of Geelong – our first joint financial advisory role is expected to end by June 2022
• June 2021: Acquisition by Morrison & Co for 2.8 billion Australian dollars of a 49% stake in Telstra’s InfraCo towers – Barclays acted as Lead Arranger, Underwriter and Bookrunner for A$1.025 billion of financing facilities and supported the consortium with risk management solutions; Barrenjoey acted as buy-side financial advisor
• May 2021: Acquisition by Seven Group of a 69.6% stake in Boral – Barclays provided the AU$5.5 billion bridge facility; Barrenjoey acted as financial advisor
Barclays has been present in Asia-Pacific for over 50 years and primarily supports businesses and financial institutions in the Asia-Pacific region, meeting their cross-border corporate and investment banking needs and connecting them to the markets of capital from the UK, Europe and the Americas. Barclays in Asia-Pacific is led by Jaideep Khanna, its regional investment banking and global markets businesses are led by Vanessa Koo and Hossein Zaimi respectively. Pushkaraj Gumaste leads its regional Corporate Banking business.
Recent key hires and development at Barclays in Asia Pacific
• May 2022: Barclays appoints Hossein Zaimi as Head of Markets, Asia-Pacific
• March 2022: Matt Pecot to retire; Anthony Davies appointed Acting Head of Markets, Asia-Pacific
• March 2022: Carrie Chen and Raymond You: Co-Heads of Investment Banking, Greater China
• February 2022: Pushkaraj GumastéHead of Corporate Banking, Asia-Pacific and Middle East
• January 2022: Duncan BeattieManaging Director, Investment Banking, Australia
• January 2022: Duncan ConnellanManaging Director, Investment Banking, Australia
• December 2021: Barclays obtains a license to operate as a foreign ADI in Australia
• October 2021: Angela LiuCountry CEO, China
• August 2021: Barclays Bank infuses over Rs. 3,000 crore of capital to expand operations in India
• August 2021: Grace KuoShanghai branch manager
• August 2021: Mani-JosephAsia Special Situations Manager, Credit
• July 2021: Evonne TanDirector of Barclays Private Bank, Singapore
• June 2021: Ee-Ching TayHead of Investment Banking, Southeast Asia
• May 2021: Girish MithranHead of Trading Program, Asia
• March 2021: Yehong JiVice President, Banking, Greater China
• March 2021: Kelvin TeoHead of Equity Capital Markets, Asia Pacific