Bank investor Gerald J. Ford is placing a new bet on the industry that made him a billionaire. Ford, who built his private equity business by purchasing faltering lenders during the savings and loan crisis, said last week he will inject $500 million into Pacific Capital Bancorp for 91 percent of the troubled California lender.rnFord, 65, has something of a golden touch when it comes to turning around distressed banks. In 1998 he and a group of investors bought California's Golden State Bancorp and turned it into the second-largest savings and loan in the U.S. It fetched about $5.3 billion when he sold it to Citigroup in 2002. Ford walked away with more than 20 million Citigroup shares, which climbed 38 percent the next year to a value of more than $1 billion.
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机译:银行投资者杰拉尔德·J·福特(Gerald J. Ford)正在对该行业进行新的押注,使他成为亿万富翁。福特在储蓄和贷款危机期间通过收购步履蹒跚的贷方建立了自己的私募股权业务,他上周表示,他将向太平洋资本银行注资5亿美元,以收购陷入困境的加利福尼亚贷方的91%。rn福特现年65岁,具有某种金色的感觉。当涉及到陷入困境的银行时。 1998年,他和一群投资者购买了加利福尼亚州的Golden State Bancorp,并将其转变为美国第二大的储蓄和贷款。2002年,他将其卖给了花旗集团,卖出了约53亿美元。福特离开时花了超过2000万花旗。股票,明年上涨38%,市值超过10亿美元。
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