US private equity giants JC Flowers and Bain Capital Credit have become shareholders in the Co-operative Bank
Two US private equity giants have become major shareholders in the UK’s Co-operative Bank, amid speculation that they could lead a consolidation of the UK’s mid-sized banks.
JC Flowers and Bain Capital Credit have bought an approximately 10 per cent stake in from Blue Mountain Capital, a hedge fund.
The deal’s value was not revealed. Although never actually run as a co-op, the bank in the early 2010s found a £1.5billion hole in its finances, which led to the Co-operative Group selling 80 per cent of its stake to US hedge funds in 2014.