Tuesday, 26 July 2016
Last updated 2 hours ago
May 21 2009 | 9:26am ET
A quartet of private equity funds are seeking to buy a “critically undercapitalized” Florida bank.
The Blackstone Group, Carlyle Group, Centerbridge Capital Partners and WL Ross & Co. submitted a bid for BankUnited Financial Corp., which regulators ordered to seek a buyer or merger partner in January, Reuters reports. Bids for the bank were due to the Federal Deposit Insurance Corp. on Tuesday morning.
BankUnited had assets of $13.1 billion and deposits of $8.7 billion as of March 31.
The auction for the bank is not public, so it is unclear if there are other bidders. Fellow p.e. shop J.C. Flowers & Co., which led a consortium to buy the assets of IndyMac earlier this year, Goldman Sachs and Toronto-Dominion Bank have also reported mulled bidding on BankUnited.