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 is made up of 201 performing capital-call loans tied to firms including Starwood Capital Group, Carlyle Group, Blackstone, Thoma Bravo and Brookfield Asset Management, 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 is handling the sale.
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
