Lloyds sells $1.65 billion private equity portfolio

  • Lloyds Banking Group is to sell a $1.65 billion portfolio of private equity investments to Coller International Partners.

    The move comes as it continues to offload riskier assets following a 2008 bailout.

    The deal also includes the transfer of undrawn commitments that are expected to be worth nearly $345 million at completion.

    The transaction is due to be completed in the fourth quarter.