NYCB Closes Deal With Mnuchin-Led Investors for Capital Infusion

New York Community Bancorp Inc. completed a deal to raise more than $1 billion of capital through an equity investment by backers led by former US Treasury Secretary Steven Mnuchin.

The troubled commercial real estate lender, which announced theagreement last week, said in a statement late Monday that the transaction has closed and that Mnuchin was appointed lead independent director. The investment was anchored by his Liberty Strategic Capital, as well as Hudson Bay Capital and Reverence Capital Partners.

“We believe that this transaction has strengthened the company’s balance sheet and liquidity position and look forward to ...