Mubasher: Activist shareholder Sherborne Investors has acquired a 5.2% stake in Barclays PLC, the bank said on Monday.

In a separate statement, the turnaround investment firm revealed it had invested GBP 580 million ($808.5 million) in its purchase of Barclays’ shares and derivatives.

Sherborne focuses on turning around underperforming companies through its investments. Its portfolio manager is Edward Bramson, who recently led the acquisition of London-based Electra Private Equity PLC.

The bank welcomed the investment, noting that it would continue to engage with Sherborne.