Barclays Boosts Stake in Australian Bank Barrenjoey to 18.2% (1)

Barclays Plc has nearly doubled its stake in Barrenjoey Capital Partners, an investment that will help the Australian bank expand its markets-facing arm.

The British lender will increase its shareholding in Barrenjoey from 9.9% to 18.2% by giving A$75 million ($52.8 million) in new capital, it said in a statement Wednesday. That will go toward establishing the new investment bank’s fixed income derivatives and equity financing platforms, it said.

The move marks a further push by the upstart firm toward a full-service bank and beyond its success in deals. Barrenjoey was involved in major recent transactions including as adviser ...