FDIC Auctions $18.5 Billion Signature Bank Loans Linked to Private Equity
The Federal Deposit Insurance Corp. (FDIC) is seeking buyers for an $18.5 billion loan portfolio from Signature Bank, consisting of subscription credit facilities to private equity funds tied to major firms such as Starwood Capital Group, Carlyle Group Inc., Blackstone Inc., Thoma Bravo, and Brookfield Asset Management Ltd. The sale is part of the FDIC's offloading of about $60 billion of Signature Bank loans, with Newmark Group Inc. handling the sale. The deadline for bids is in September, with closing set for early October.