Standard Chartered to Consider Exiting Private Equity Business
Standard Chartered is considering spinning out its private equity business to its managers as CEO Bill Winters intends to simplify the bank and reduce the amount of risk it takes. It may exit Standard Chartered Private Equity as it faces tougher capital rules and losses from the unit.
“Standard Chartered Private Equity has been involved in deals worth at least $1.5 billion since the start of 2015.”
Standard Chartered Private Equity has been involved in deals worth at least $1.5 billion since the start of 2015. Acquisitions include stakes in Singaporean companies Phoon Huat & Co, a vendor of baking ingredients such as pie fillings and confectioners’ sugar, and Crystal Jade Culinary Concepts Holding Pte, a restaurant chain known for its steamed dumplings and spicy noodles. It is also among the biggest shareholders in Union Bank of Nigeria Plc, a lender whose stock has plunged 35 percent so far this year.
About Standard Chartered Private Equity
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