The Federal Deposit Insurance Corp. launched the sale of an $18.5 billion loan portfolio from Signature Bank this week, a pool of debt tied to major private equity and investing firms.
The portfolio comprises 201 performing capital-call loans tied to firms including Starwood Capital Group, Carlyle Group Inc., Blackstone Inc., Thoma Bravo and Brookfield Asset Management Ltd., according to a person familiar with the matter who asked not to be identified citing private information.
The loans for sale “consist of subscription credit facilities to private equity funds,” according to a notice from the FDIC. The FDIC declined to comment. A representative for Newmark didn’t immediately return a message seeking comment.
The sale, which launched July 25, is limited to FDIC-insured depository institutions, according to the FDIC’s notice. The deadline for a bid is in September, with closing set for early October. Newmark Group Inc. is handling the sale.
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The sale of this debt is the most recent phase of the FDIC’s offloading of about $60 billion of Signature Bank loans. The loans have been in FDIC receivership since earlier this year, when Signature Bank collapsed amid regional bank turmoil.
Newmark is still working on preparing a sale of Signature’s commercial real estate loans, although timing remains unclear, the person said.
--With assistance from John Gittelsohn and Patrick Clark.
