Building one of the largest banks in Southern California
OneWest Bank was formed in 2009 by an investor group, including Newlight Partners, to acquire certain assets of IndyMac Federal Bank, FSB from the Federal Deposit Insurance Corporation (“FDIC”). IndyMac was a regional savings and loan institution which was closed by the Office of Thrift Supervision and placed under the conservatorship of the FDIC in 2008. OneWest subsequently acquired two additional banks from the FDIC, becoming the largest bank in Southern California with over 60 retail branches. CIT Group acquired OneWest in 2015.
- Status: Realized
- Investment Year: 2009
- Region: North America