May 21 Blackstone Group LP and TPG
Capital Management LP are expected to make a combined
offer for Kensington, one of Britain's biggest specialist
mortgage lenders, Sky News reported on Wednesday.
The news service said that the two private equity companies
are expected to bid for Kensington, which is owned by
Anglo-South African banking group Investec, which sponsors the
England cricket team, by the end of the month. (link.reuters.com/xeh59v)
According to the Sky, Blackstone and TPG are understood to
be competing against at least three other bidders one of which
is said to be Lonestar, a specialist U.S. property investor.
Other bidders for the business are reported to have included
Goldman Sachs, Virgin Money and Metro Bank, although at least
two of them are understood no longer to be involved, Sky News
Blackstone and TPG could not be reached for comment outside
of normal business hours.
(Reporting by Aashika Jain in Bangalore; Editing by Peter