BankUnited Expected To File This Week For IPO

BankUnited, a Florida bank owned by private equity firms, is expected to file for an initial public offering this week, Reuters reported. Financial details were not disclosed. BankUnited was acquired last year by a consortium of private equity firms including Washington, D.C.-based The Carlyle Group and New York-based Blackstone Group.

(Reuters) – BankUnited, a collapsed Florida bank acquired last year by private-equity firms, is expected to file for an initial public offering this week, a person familiar with the situation said on Monday.
The source was not authorized to speak publicly about the filing and declined to be named.
BankUnited was acquired by private equity firms last year, including Wilbur Ross’ WL Ross & Co, The Carlyle Group [CYL.UL], Blackstone Group (BX.N) and Centerbridge Partners. The firms put in $900 million.
A source previously told Reuters that an IPO would come at the end of 2010 or in the first quarter of 2011, at the earliest.
BankUnited declined to comment on Monday.
BankUnited, based in Miami Lakes, Florida, has $11 billion in assets and more than 75 branches, according to its website. (Reporting by Clare Baldwin; Additional reporting by Megan Davies; Editing by Richard Chang)