Barclays Bank UK PLC Acquires Kensington Mortgages from Blackstone and Sixth Street
June 24, 2022
Barclays Bank UK PLC agreed to acquire Kensington Mortgages (KMC and KMS) from funds affiliated with Blackstone Tactical Opportunities and Sixth Street; the deal was announced June 24, 2022 and completed March 1, 2023. The acquisition adds a specialist UK residential mortgage lender — with strong data and technology-driven underwriting and ~600 employees — to Barclays' UK mortgage capabilities.
- Buyers
- Barclays Bank UK PLC
- Targets
- Kensington Mortgages (Kensington Mortgage Company Limited and Kensington Mortgage Services Limited)
- Sellers
- Funds affiliated with Blackstone Tactical Opportunities (Blackstone), Funds affiliated with Sixth Street
- Industry
- Financial Services
- Location
- Berkshire, United Kingdom
- Transaction Type
- Buyout
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