FDIC launches sale of $18.5 billion of Signature Bank loans

FDIC launches sale of $18.5 billion of Signature Bank loans

The U.S. Federal Deposit Insurance Corporation (FDIC) has initiated the sale of an $18.5 billion loan portfolio from Signature Bank. This portfolio consists of loans associated with major private equity and investing firms, as reported by the regulator’s website. According to Bloomberg News, the portfolio includes 201 performing capital-call loans linked to Starwood Capital Group, Carlyle Group (CG.O), Blackstone (BX.N), Thoma Bravo, and Brookfield Asset Management (BAM.TO), based on information from a knowledgeable source.

In March, the FDIC appointed Newmark Group (NMRK.O) to handle the sale of approximately $60 billion worth of Signature Bank’s loans. This decision was made after state regulators opted to close down the troubled lender due to the turmoil in regional banks earlier this year.

The FDIC has refrained from providing any additional comments beyond the notice posted on its website. The sale was launched on July 25 and is exclusively available to FDIC-insured depository institutions, according to the Bloomberg report.

The notice specifies that the loans being sold are “subscription credit facilities to private equity funds.”

Reporting by Pritam Biswas in Bengaluru; Editing by Arun Koyyur

Our Standards: The Thomson RushHourDaily Trust Principles.

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