Flowers Raises $2.5B Financials Buyout Fund

Sep 29 2008 | 9:04am ET

Private equity firm J.C. Flowers & Co. has raised a $2.5 billion buyout fund to invest in banks and financial firms battered by the Wall Street crisis.

The New York-based firm finished a first round of fundraising this month, and may raise additional capital if needed, Bloomberg News reports. Flowers last month won approval to buy the nationally-chartered First National Bank of Cainesville, Mo., which he said he may use to buy “troubled of failed depository institutions.”

Flowers has considered making investments in at least two financial firms this year, advising Bank of America on its purchase of Merrill Lynch, as well as trying to invest in insurer American International Group before its bailout by the government this month.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

Analyzing The Digital Footprint: What Operational Data Can Tell You About Future Risk

Mar 30 2017 | 3:38pm ET

Advances in technology and increasing operational complexity in search of higher...

 

From the current issue of