Barclays receives new bids for iShares

New private equity bidders have emerged for Barclays' iShares business, including BC Partners.

Media reports suggest Incisive Media-owner Apax Partners and Hellman & Friedman, both private equity players displaying an interest in the initial round of bidding, have also re-emerged.

Last month Barclays announced the sale of its San Francisco-based exchange traded fund business for £3bn (US$4.4bn) to private equity firm CVC Capital Partners.

The deal included a sale provision allowing Barclays to shop around for a better offer for its iShares business from a third party for at least 45 days. However, if it decides not to sell to CVC, Barclays Global Investors, the firm's asset management arm, will pay a fee of $175m. The shop-around provision expires on June 18.

Barclays spokeswoman Sarah McDonald acknowledged "there has been a lot of interest" but declined to comment further.

Officials at BC Partners also declined to comment, but a report in The Independent claimed the firm tabled a bid worth £3.5bn. A Hellman & Friedman spokesperson also declined to comment, while a spokesperson for Apax could not be immediately reached.

The British bank sold iShares in an effort to raise cash and avoid joining the UK's asset protection scheme, which could require an injection of funds from the Government.