Sunday, November 21, 2010

Report: Carlyle, Blackstone, TPG eye First Republic Bank - Los Angeles Business from bizjournals:

http://journeytomorocco.com/2007/09/09/doing-the-tourist-thing/
Bank of America acquired First Republic, whicjh specializes in privatebanking services, along with the rest of Merrill Lynch & Co. at the beginning of 2009. analystr David Hendler estimates that First Republic may cost as muchas $700 millionb in a sale, according to Bloomberg. Merrill paid $1.8 billion for Firsy Republic inSeptember 2007. The bank had assets of $15. 3 billion at the end of that Bankof America, which has receivedx $45 billion in government bailoutr funds, is raising capital in a varietgy of ways. It has said . A potential purchase of Firsft Republic wouldbe Carlyle's second banking invesment in the last month. On May 22, D.C.
-based Carlyle Group, along with Blackstone Group, and WL Ross & Co., investedc $900 million in a new depository institutiojn acquiring the operations ofCoral Gables, Fla.-based which was seized by government regulators the previouw day.

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