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Fried Frank Harris Shriver & Jacobson LLP | USA | 6 Nov 2009

Blind pools, split banks and the further evolution of bank investing

Recently, blind pool bank investment funds have become the latest structure to attract interest among investors looking for investment opportunities in financial institutions.


Fried Frank Harris Shriver & Jacobson LLP | USA | 27 Jul 2009

The FDIC prepares to test a new asset disposition program to offer private equity a chance to play

Blending old and new programs, the Federal Deposit Insurance Corporation (FDIC) will soon launch a new funding program to facilitate the purchase of mortgage loans and, potentially, other assets of failed banks.


Fried Frank Harris Shriver & Jacobson LLP | USA | 22 May 2009

BankUnited sold to private equity firms

As we have predicted, the continuing efforts of private equity firms to create structures that are consistent with bank control and holding company rules and that can be used to acquire financial institutions, and the willingness of banking regulators to accommodate private investors and put fresh capital to work in the banking business, were again reflected on May 21, 2009, when the FDIC announced that it had sold BankUnited, FSB, Coral Gables, Florida, to a newly chartered federal savings bank owned by WL Ross & Co. LLC, Carlyle Investment Management L.L.C., Blackstone Capital Partners V L.P., Centerbridge Capital Partners, L.P., LeFrak Organization, Inc, The Wellcome Trust, Greenaap Investments Ltd., and East Rock Endowment Fund.

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