Barclays Private Equity has doubled its money on a two-year investment in Clydesdale Financial Services, selling the UK consumer credit business to Barclaycard for just under £62m (€89.76).

The European buy-out firm invested £25m (€36m) when it bought Clydesdale from Next, the UK retail group. The management buy-in management buy-out was worth more than £200m including debt from its parent Barclays and mezzanine from Intermediate Capital Group, an independent mezzanine provider.