Barclays’s Abu Dhabi Investors to Sell $6.8 Bln Stock

Barclays Plc’s Abu Dhabi investors plan to sell 4.12 billion pounds ($6.8 billion) of shares in the bank after a 54 percent rally since the investment was made.

PCP Gulf Invest 1 Ltd., owned by the Abu Dhabi-based International Petroleum Investment Company, hired Credit Suisse Group AG to sell mandatory convertible notes, it said in an e- mailed statement. The notes amount to 1.3 billion shares, London-based Barclays said in a separate statement.

The MSCI World/Financials Index has advanced 73 percent in the past three months, the biggest gain among the 10 industry groups on the MSCI. The investment fund said it plans to focus on energy assets, mirroring a shift away from financial stocks among sovereign wealth funds including Temasek Holdings Pte as commodity prices recover from last year’s rout.