Corsair-Led PE Group Inks $968M Deal For RBS Bank Portfolio

Law360, New York (September 27, 2013, 2:20 PM EDT) -- A consortium led by New York private equity house Corsair Capital LLC has agreed to make a £600 million ($968 million) pre-initial public offering investment in The Royal Bank of Scotland Group PLC's portfolio of 314 U.K. bank branches in exchange for a post-IPO minority stake, RBS said Friday.

The investment group, which includes Corsair and New York- and London-based private equity firm Centerbridge Partners LP, will become the anchor investor in the new bank branch portfolio, which will go public under the long-dormant Williams &...
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