The new investment complements Barclays’ presence in Australia
Barclays makes multimillion investment in Australia. Source: unsplash.com
Barclays announced that it has signed an agreement to become a founding investor in Barrenjoey Capital Partners, a newly-established Australia-based financial services firm. Barrenjoey, which is scheduled to launch in mid-2021, will provide corporate and strategic advisory, domestic equity and debt capital market underwriting, cash equities, research, prime brokerage as well as traditional fixed income services in Australia.
Barclays has agreed to invest A$45 million (c.£25 million) in Barrenjoey for a 9.99% economic interest and a 4.99% voting interest. Barclays has also entered into a Cooperation Agreement with Barrenjoey covering global product distribution, research, cross border advisory and debt capital markets.
This cooperation arrangement complements Barclays’ presence in Australia, and at the same time, provides Barclays with an opportunity to accelerate its growth strategy in the country.
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