Carlson Capital LP has reaffirmed its commitment to Barbican Group Holdings Limited with a deal to buy out fellow US private equity firm Steel Partners II, LP's minority holding in the Lloyd's insurer.
Carlson and Steel both took 37.8 percent equity stakes in the start-up when it launched in 2007, with management holding 20.3 percent.
Steel's stake has subsequently been significantly diluted, leaving it with an investment of just 15.1 percent in Barbican as at 30 September 2011.
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