Barclays spends $2.8 billion to grow mortgage business

barclays Plc went deeper into the UK’s competitive home-loan market on Friday with a $2.8 billion deal to buy specialist lender Kensington Mortgage Co Ltd. Blackstone Inc., and Sixth Street Partners.

The British bank said it will acquire a loan portfolio of approximately $2.4 billion and a servicing business for Kensington’s target customers of the self-employed and others with unconventional credit profiles.