Liberty Strategic, Hudson Bay, Reverence and Others Invest Over $1 Billion in New York Community Bancorp
March 6, 2024
New York Community Bancorp (NYCB) announced an equity capital raise of approximately $1.05 billion led by Liberty Strategic Capital (Steven Mnuchin) with investments from Hudson Bay Capital Management, Reverence Capital Partners, Citadel Global Equities, other institutional investors and certain members of NYCB management. The financing includes common and convertible preferred stock plus warrants, will add new board members (including Steven Mnuchin) and is intended to strengthen NYCB's capital position and support a management-led turnaround.
- Buyers
- Liberty Strategic Capital, Hudson Bay Capital Management, Reverence Capital Partners, Citadel Global Equities, Certain members of NYCB management, Other institutional investors
- Targets
- New York Community Bancorp, Inc.
- Industry
- Financial Services
- Location
- New York, United States
- Transaction Type
- Growth capital
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