Carlyle Group buys BankUnited
Washington Business Journal - by Jeff Clabaugh Staff Reporter
The Carlyle Group is among a group of investors that will take over Florida’s BankUnited, the largest bank to fail this year.
Carlyle, along with Blackstone Group, Centerbridge Partners and WL Ross & Co., have invested $900 million in a new depository institution acquiring the operations of BankUnited, which was seized by government regulators Thursday evening. The new bank will remain headquartered in Coral Gables and continue to operate under the BankUnited name,Carlyle said in a statement.
The new investors say they plan to expand BankUnited’s product offerings and improve service.
The Office of Thrift Supervision declared BankUnited unsafe earlier this year and last month ordered it to find a buyer.
BankUnited (NASDAQ: BKUNA), with $13 billion in assets, is the 34th bank to fail in 2009.