BankUnited

exited

Financial Services — WL Ross / Blackstone / Carlyle / Centerbridge

Deal Terms

Entry Year2009

Entry EV$0.945B

Entry Multiple3x

Leverage2x

Debt Amount$0.19B

Outcome

Exit Year2010

Risk Metrics

LTV (est.)20%

Debt / EV0.20x

Notes

PE consortium (WL Ross, Blackstone, Carlyle, Centerbridge) bought failed Florida bank from FDIC for $945M (2009). FDIC loss-sharing agreement covered 80-95% of losses on $10.7B loan portfolio. IPO'd Jan 2010 — less than a year later. PE made 100%+ returns. Classic distressed PE: buy with government guarantee, flip quickly.

Sponsor

Blackstone$1270B AUM