A group of investors led by the former U.S. Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital, will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. The move strengthens the bank’s balance sheet amid a confidence crisis related to its commercial real estate loan portfolio.

Liberty is expected to invest $450 million, followed by $250 million from Hudson Bay Capital and $200 million from Reverence Capital Partners. Citadel Securities, other institutional investors, and company management members will also participate in the transaction, subject to details ⇒

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