Barclays Calls PE Chief 'Naïve' Over Fundraising Claims

Law360, London (October 14, 2020, 4:18 PM BST) -- A British financier was naïve to commit to raising "eye-watering amounts of money" as part of Abu Dhabi's investment in Barclays at the height of the 2008 financial crisis before she was ousted from the deal, a lawyer for the bank told a court on Wednesday.  

Jeffery Onions QC, representing Barclays Bank PLC, said in closing arguments in the High Court lawsuit against the lender that Amanda Staveley was a "novice in raising finance." Her private equity company, PCP Capital Partners, could never have raised the finance required to take part in the bank's crisis-era fundraising, he added.

"PCP was, in...

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