Apax joins Hellman in possible iShares bid: source
LONDON |
LONDON (Reuters) - Hellman & Friedman has teamed up with British private equity firm Apax Partners to consider bidding for Barclays's iShares unit, a person familiar with the matter said on Tuesday.
H&F has been looking to form a consortium and is eyeing an offer of around $5 billion for the exchange-traded funds provider, the person added.
Reuters reported on Monday that Goldman Sachs had joined the list of potential bidders while sources familiar with the matter had said previously that Bain Capital and TPG had also shown an interest in iShares.
The Financial Times said the bids could value iShares at as high as $6.5 billion. It added that other bidders are thought to include U.S. fund manager Vanguard.
Goldman Sachs, Barclays, Apax, and Hellman & Friedman all declined to comment. (Writing by Victoria Howley; Editing by Greg Mahlich)
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