Private Equity Wants In On Banks Despite Barriers

Law360, New York (October 21, 2009, 4:30 PM EDT) -- Bank failures are set to top the 100 mark for the first time since 1992, and private equity shops are lining up to buy. But with strict rules now in place at the Federal Deposit Insurance Corp. and the restrictions of the Bank Holding Company Act holding firm, private equity outfits will be forced to get creative to get in on the potentially lucrative sector.

"The attraction, I think, is simply market opportunity,” said Walter E. Zalenski, a partner at Weil Gotshal & Manges LLP. “The...
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