LOS ANGELES--(BUSINESS WIRE)--Colony Capital, LLC today announced the completion of its investment in First Republic Bank in connection with the management-led transaction that re-establishes First Republic Bank as an independent financial institution. San Francisco-based First Republic Bank is a private bank and wealth management firm. Colony Capital, LLC (“Colony”) co-led a group of private investors in supporting First Republic Bank’s founding leadership team in the transaction, which was first announced on October 21, 2009. Terms of the transaction have not been disclosed.
Colony’s founder, chairman and chief executive officer Thomas J. Barrack, Jr. served as an independent director of First Republic Bank from 2001 until June 2008.
Mr. Barrack stated: “We have known First Republic Bank's excellent management team for many years, and we are very pleased to support them in re-establishing the bank’s independence. This is an exciting time for a healthy bank with a unique strategy. The bank's unparalleled reputation, discipline and personalized service, coupled with its private banking and wealth management capabilities, position it well for continued long-term growth."
About Colony Capital, LLC
Founded in 1991 by Chairman and Chief Executive Officer Thomas J. Barrack, Jr., Colony Capital is a private, international investment firm focusing primarily on debt and equity investments in real estate-related assets and operating companies. The firm has invested more than $45 billion in over 10,000 assets through various corporate, portfolio and complex property transactions. Colony has a staff of more than 200 and is headquartered in Los Angeles, with offices in New York, Boston, London, Madrid, Paris, Rome, Beirut, Hong Kong, Beijing, Tokyo, Seoul and Taipei. For more information, visit www.colonyinc.com.
About First Republic Bank
Founded in 1985, First Republic Bank and its affiliated companies provide private banking, private business banking and private wealth management, including investment, trust and brokerage services. First Republic specializes in delivering exceptional, relationship-based service through preferred banking and/or wealth management offices in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland, Seattle, Boston, Greenwich and New York City. More information is available on the Bank’s website at http://www.firstrepublic.com.