BPE set to revamp management structure

Barclays Private Equity, the mid-market private equity subsidiary of Barclays Bank, is expected to revamp its unusual three-headed management approach following its expected spinout, a source close to the firm has confirmed.

The firm is currently led by three co-heads across three European offices.

Appointed in 2005, the three co-heads are Gonzague de Blignieres (head of France), Peter Hammermann (head of Germany) and Paul Goodson (head of UK). 

BPE, which is expected to split in the coming months, will most likely restructure itself under the leadership of a single director, a source close to the matter has confirmed.

In May sources revealed the captive unit would spin out only when enough capital has been committed to its first solo fund. The group is attempting to raise around £1.5 billion (€1.7 billion; $2.4 billion) for the fund, according to the source.

BPE is currently investing its third external fund, Barclays Private Equity European Fund III (“BPEEF III”), which closed in 2007 with €2.4 billion in total commitments.

BPE declined to comment.