Two leading forces in the investment industry, distressed asset investor Wilbur Ross and the Carlyle private equity group, are considering a joint bid for BankUnited Financial, a troubled Florida-based bank with $14bn in assets. The two investors were conducting due diligence as Tim Geithner, US Treasury secretary, prepared a financial sector rescue plan that would seek to induce private capital to pursue deals for distressed financial institutions and assets. BankUnited has said in a SEC filing that its capital ratios had fallen below regulatory minimums and that it was in talks to raise capital and restructure its balance sheet. If the talks failed, however, it was highly unlikely the bank could “continue as a going concern,” it warned.

This entry was posted by Gwen Robinson on Tuesday, February 10th, 2009 at 5:53 and is filed under Capital markets, M&A, People, Private equity. Tagged with BankUnited, carlyle, wilbur ross. Edit this entry.