Wednesday, 28 January 2015
Last updated 8 hours ago
Dec 22 2009 | 9:45am ET
A bank owned by a consortium of hedge and private equity funds has made its first acquisition, buying one of the seven banks closed by U.S. regulators last week.
OneWest Bank, formerly the failed lender IndyMac, has acquired First Federal Bank for $6.1 billion. OneWest, which is owned by Paulson & Co., Soros Fund Management, J.C. Flowers & Co. and Dune Capital Management, among others, reopened the 39 First Federal branches on Saturday.
First Federal had $4.5 billion in total deposits.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…