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West LB's Saunders reportedly in talks with Coller Capital13/08/2003. Source: AltAssets. 
 Robin Saunders, the glamour-banking boss of West LB's troubled principal finance unit, is reportedly in ‘advanced talks' with UK-based secondaries specialist Coller Capital about backing for a buy-out bid.
The Times said Saunders was also talking with other potential financiers, who might fund the bid alongside but separately from Coller.
West LB said last week it would sell the unit, which has been hit by problem investments and doubts about its risk management. But the bank is understood to be keen to take its time weighing up the various options. It might sell the unit in one piece or in any number of smaller parcels.
Saunders's unit owns equity of around £150m and more than £2bn in debt. Her investments include the Odeon cinema chain, Pubmaster, and Kyndal International, as well as the source of the bank's recent difficulties electronics rentals group Boxclever.
Coller Capital raised the largest ever dedicated secondaries fund last year, worth $2.5bn, and has been involved in some of the most creative transactions in the industry. A speedy resolution to the Saunders story, however, is thought to be extremely unlikely.
Copyright © 2003 AltAssets
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