Bank investments, not traditional leveraged buyouts, dominated private equity deals in the financial services sector for the six months ended June 30, according to a report released today by Freeman & Co.
Investments in bank and broker-dealers accounted for 44% of overall deal value, said Eric C. Weber, a managing director and COO of Freeman. The biggest deals included TPG’s $2 billion April investment in Washington Mutual Inc., Seattle, and Corsair Capital’s $985 million investment in National City Corp., Cleveland, in May.
