Commentaries

Sheila Bair gets it right

July 2, 2009

FDIC Chairman Sheila Bair last month told a US Senator her agency would “get it right,” in coming up with a set of rules to govern private equity investments in failed banks. And it appears that’s what Bair has done.

PE bank rules–now that’s news

July 1, 2009

Glad to hear the FDIC is getting close to issuing tough rules for allowing private equity firms to buy the assets of lenders taken over by the regulator. The Wall Street Journal reports on the development today.

Bair on PE bank deals: “We will get this right.”

June 18, 2009

The idea of the strip-and-flip crowd a/k/a private equity firms buying distressed banks out of government receivership raises a lot of dicey issues. But with federal regulators approving three such transactions this year and more bank failures on the way, get used to the idea of PE banking.

Kanas is the main man

June 10, 2009

It was never a secret that former North Fork CEO John Kanas was the prime mover behind a group of private equity firms that recently acquired the assets and banking operations of Florida-based BankUnited, a failed lender that the regulators had to takeover. But bid documents submitted by the investor group reveal just how central Kanas was to putting the team of private equity buyers together.

The Top Secret PE Exit Strategy

June 4, 2009

The problem with being a private equity investor is that you’re subject to long lockups for withdrawing money–sometimes up to 5 years.

from Margaret Doyle:

Candover prices in disaster

June 3, 2009

Shares in Candover Investments appear to be pricing in Armageddon.The shares are trading at around 200p, against a net asset value of 1026p at the end of December.