Hedge Fund-, P.E.-Owned Bank Buys Failed Bank

Dec 22 2009 | 10:45am 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.


In Depth

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...