Barclays PE buys into Oscar-winning effects firm

* Barclays PE buys stake in Oscar-winning The Mill

* Acquisition values The Mill at 119 million pounds

By Brenda Goh

LONDON, April 19 (Reuters) - Barclays Private Equity bought a majority stake in visual effects company The Mill, attracted by its exposure to the advertising market and rapidly growing emerging markets.

The stake, bought from U.S private equity firm Carlyle Group [CYL.UL], values Oscar-winning The Mill at 119 million pounds ($193.1 million), Barclays PE, part of Barclays Plc (BARC.L), said on Tuesday.

The Mill, which opened its first office in London's Soho district in 1990, produces digital visual effects for brands such as Nike (NKE.N) and Adidas (ADSGn.DE), and for British television dramas such as "Doctor Who" and "Primeval".

In 2001, the company won an Oscar for its special effects work on the Russell Crowe-starred film "Gladiator". The Mill now has offices in New York and Los Angeles and recently opened a joint venture in Singapore with British creative agency BBH.

It achieved revenue of 74.2 million pounds in the year to Dec. 31 2010, the firm said. The Mill's co-founders, Chief Executive Robin Shenfield and Chief Creative Officer Pat Joseph, will remain with the company after the deal. (Reporting by Brenda Goh; Editing by David Holmes) ($1=.6163 Pound)