Barclays Spends $2.8 Billion to Beef Up Mortgage Business

Barclays PLC went deeper into the UK’s competitive home-loan market with a $2.8 billion deal Friday to buy specialist lender Kensington Mortgage Company Ltd. from Blackstone Inc. and Sixth Street Partners.

The British bank said it would acquire a roughly $2.4 billion loan portfolio and a servicing business for Kensington’s target clientele of self-employed and other people with unconventional credit profiles.


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