Consortium Injects $177M into Cascade
February 1, 2011- Share:
A consortium of investors has completed a $177 million PIPE deal in Cascade Bancorp (NASDAQ: CACB). The investor group included Lightyear Capital, Leonard Green & Partners and WL Ross & Co., each of which now owns a 24.4% stake in the bank. Lightyear was legally advised by Simpson Thacher & Bartlett on the transaction, while Skadden, Arps, Slate, Meagher & Flom provided legal counsel to LGP and WL Ross.
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