This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Private Equity Circles Euro-Bank Market

NEW YORK ( TheStreet) -- U.S.-based private equity firms JC Flowers & Co. , WL Ross & Co. and KKR (KKR - Get Report) are eying European bank deals.

"A lot of the private equity groups are really international now. Some have been looking at Spain. We really haven't been, but some have," said James Lockhart, vice chairman of WL Ross & Co. "The small banks all over Europe need capital and I would think there will be more deal activity next year."

WL Ross & Co. has been gradually acquiring stakes in distressed banks.

In the U.S., it has acquired stakes in BankUnited, Cascade Bancorp (CACB - Get Report) , Sun BanCorp (SNBC - Get Report) and First Michigan Bankcorp.

WL Ross is also bidding in Europe, including Irish bank EBS Building Society and plans to pursue acquisitions of banks in Northern Europe, according to a video Lockhart did with TheStreet.

"In the U.S. our strategy is to create super community banks, if you will," said Lockhart in a phone interview. "In the UK, our strategy is to partner up with a brand name credit company and we are looking at acquiring branches and assets from banks that are being forced to divest them by the government."

KKR co-founder Henry Kravis also said the form is in discussions with several European banks. During Goldman Sachs (GS) US Financial Services Conference 2010 Kravis said that there were many opportunities to invest in both US and European financial institutions, particularly in Germany.

"There are opportunities today and we are having conversations today with several financial institutions that need capital," Kravis said.

--Written by Maria Woehr in New York.

To contact the writer of this article, click here: Maria Woehr.

To follow the writer on Twitter, go to

To submit a news tip, send an email to:

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
CACB $4.87 0.83%
BX $38.41 1.05%
KKR $22.77 0.53%
SNBC $19.20 1.48%
AAPL $126.37 2.53%


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs