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New York Community Bancorp receives over $1bn investment from major firms

By Pallavi Madhiraju on March 7, 2024 General business news

In a significant financial maneuver, New York Community Bancorp, Inc. (NYSE: NYCB), parent company of Flagstar Bank, N.A., has announced an over $1 billion investment from a consortium of leading investors including Liberty Strategic Capital, Hudson Bay Capital, Reverence Capital Partners, Citadel Global Equities, and other institutional investors, alongside certain members of the company’s management. […]

Wells Fargo to divest asset management business to GTCR and Reverence Capital for $2.1bn

By Pallavi Madhiraju on February 23, 2021 General business news

Wells Fargo & Company has agreed to divest its asset management business – Wells Fargo Asset Management (WFAM) to private equity firms GTCR and Reverence Capital Partners for $2.1 billion. As part of the deal, Wells Fargo will retain a stake of 9.9% in the asset management business and will continue to be its major […]