INVESTORS PURCHASE BANKUNITED WITH $900 MILLION FUND

CORAL GABLES, FLA. — A group has invested $900 million into a depository institution in order to acquire Coral Gables-based BankUnited from the Federal Deposit Insurance Corp. The investors, led by John Kanas, include funds advised by The Blackstone Group, The Carlyle Group, WL Ross & Co. and Centerbridge Partners. The FDIC acted as BankUnited’s receiver and sold the company’s operations, deposits and assets. Kanas, a 35-year industry veteran, will serve as chairman and CEO of the new financial institution, which will retain the BankUnited name. Bank of America Merrill Lynch Securities and Skadden, Arps, Slate, Meagher & Flom advised the investor group and the new management of BankUnited. Simpson Thacher & Bartlett and Wachtell, Lipton, Rosen & Katz also served as advisors.