North American Financial Holdings (NAFH), a bank holding company run by former Bank of America execs, is eyeing an initial public offering, and has hired Bank of America, Goldman and Credit Suisse to advise on the deal, CNBC reports.
NAFH, set up two years ago to invest in troubled banks, would be just the third IPO of a bank since 2009, according to data provider Dealogic. The other two were BankUnited Financial, a private-equity-led turnaround of the failed Florida bank, and First Interstate, a Montana-based family-owned institution set up in 1968.
Just in case you’re like us and have forgotten, NAFH was part of a flurry of so-called "blind pools," designed to overcome regulatory resistance to "fast money" from hedge funds and private equity firms seeking to enter the banking sector….
Read more at:
http://www.cnbc.com/id/43440842
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