Fdic Launches Sale Of $18.5 Bln Of Signature Bank Loans: Bloomberg News

Signature Bank

28/07/2023 21:36

July 28 (Reuters) - The U.S. Federal Deposit Insurance
Corporation (FDIC) set in motion the sale of an $18.5 billion
loan portfolio from Signature Bank this week, a set of loans
linked to major private equity and investing firms, Bloomberg
News reported on Friday. 
    The portfolio comprises 201 performing capital-call loans
tied to Starwood Capital Group, Carlyle Group  CG.O , Blackstone
 BX.N , Thoma Bravo and Brookfield Asset Management  BAM.TO ,
the report said, citing a person familiar with the matter. 
    The FDIC hired Newmark Group  NMRK.O  in March to sell about
$60 billion of Signature Bank's loans, after state regulators
decided to close down the failed lender amid a turmoil in
regional banks earlier this year. 
    The FDIC did not immediately respond to a Reuters request
for comment. 
    The sale was launched on July 25 and is limited to
FDIC-insured depository institutions, the report said, citing a
notice by the regulator. 
    The notice reads that the loans for sale "consist of
subscription credit facilities to private equity funds."

 (Reporting by Pritam Biswas in Bengaluru; Editing by Arun
Koyyur)
 ((Pritam.Biswas@thomsonreuters.com;))