A&O Shearman advises Brookfield on strategic partnership with Barclays

The partnership will work to create a standalone entity over time, leveraging Barclays' extensive client relationships and experience of U.K. payments and Brookfield's global private equity expertise in payments, technology, operational transformation and corporate carve outs. Barclays will invest GBP400 million, while the partnership provides Barclays with a well-defined path to realizing value from the Business over time. After year three of the partnership, and up to its seventh anniversary, Brookfield may acquire an approximately 70% ownership interest in the Business and, upon that sale by Barclays to Brookfield, Brookfield’s initial financial incentive, granted at the start of the partnership, will convert into an additional 10% shareholding in the Business, resulting in a total Brookfield shareholding of approximately 80%.

This marks the first transaction for Brookfield Financial Infrastructure Partners, a dedicated strategy part of Brookfield’s private equity business, focused on investing in digital assets that enable the movement of money and form the backbone of the world’s financial economy. 

The team was led M&A partners Dominic Morris, Hugh Robinson and Chris Sabine as well as European co-head of private equity Neil Sinha on financing matters, together with M&A senior associates Preethi Correa and James Funder and associate Akshita Jha.