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J.C. Flowers to lead $1.8bn investment in Shinsei23/11/2007. Source: AltAssets. 
 A group of investors led by US private equity giant J.C. Flowers & Co. is to invest $1.8bn for an up to 32.6 per cent stake in Japanese diversified financial group Shinsei Bank.
Other investors involved in the deal reportedly include Spanish firm Grupo Santander and Swiss Re.
J.C. Flowers is offering ¥425 per share for 22.7 per cent of the company's outstanding common stock. Shinsei plans to issue a further ¥50bn of shares.
Shinsei provides financial products and services to institutional and retail customers. It has total assets of $107bn on a consolidated basis as of September 2007 and a network of 43 outlets in Japan.
A J.C. Flowers and Ripplewood Holdings-led investor group acquired Shinsei in a $1.2bn transaction and completed a successful turnaround of the business, resulting in an IPO in 2004. J.C. Flowers never fully exited its investment, holding on to a small stake, which the firm is now aiming to increase again.
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