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Blind Pools, Split Banks and the Further Evolution of Bank Investing
by David L. Ansell
Fried, Frank, Harris, Shriver & Jacobson LLP - Washington Office
Robert H. Ledig
Fried, Frank, Harris, Shriver & Jacobson LLP - Washington Office
Gordon L. Miller
Fried, Frank, Harris, Shriver & Jacobson LLP - Washington Office
Thomas P. Vartanian
Fried, Frank, Harris, Shriver & Jacobson LLP - Washington Office
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November 13, 2009
Previously published on November 6, 2009
Recently, blind pool bank investment funds have become the latest structure to attract interest among investors looking for investment opportunities in financial institutions. The NBH Holdings* transaction is the first recent example of this kind of a structure, which can be used to recapitalize or purchase open banks, or bid on failed banks from the Federal Deposit Insurance Corporation (FDIC) once a shelf charter is obtained. However, this structure comes with its own set of challenging issues for organizers and investors.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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