Reverence Capital Partners Takes Stake in NY Community Bancorp

TL;DR

**Reverence Capital Partners just bought a big chunk of NYCB. Big moves coming?**

AI Summary

On June 14, 2024, RCP GenPar HoldCo LLC, an affiliate of Reverence Capital Partners, L.P., filed a Schedule 13D indicating it has acquired a significant stake in New York Community Bancorp, Inc. The filing does not disclose the exact number of shares or dollar amount, but signifies a substantial investment by Reverence Capital Partners in the banking institution.

Why It Matters

This filing signals a significant investment by an influential private equity firm in a regional bank, potentially leading to strategic changes or operational improvements at New York Community Bancorp.

Risk Assessment

Risk Level: medium — The filing indicates a new, significant shareholder, which could lead to activist investor strategies or changes in company direction, introducing uncertainty.

Key Players & Entities

• RCP GenPar HoldCo LLC (company) — Filing entity
• Reverence Capital Partners, L.P. (company) — Affiliated entity
• New York Community Bancorp, Inc. (company) — Subject company
• Thomas Marcotullio (person) — Contact person for Reverence Capital Partners

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
• $200.0 million — invested an aggregate of approximately $200.0 million in exchange for the Issuers sale and is
• $2.00 — of Common Stock at a purchase price of $2.00; (b) 11,857 shares of a new series of t
• $2,000 — ferred Stock ), at a price per share of $2,000 and each of which is automatically conv
• $2,500 — suance of such warrant, to purchase for $2,500 per share, shares of a new class of non

Filing Documents

• d854413dsc13d.htm (SC 13D) — 72KB
• d854413dex9924.htm (EX-99.24) — 6KB
• 0001193125-24-161549.txt ( ) — 80KB

From the Filing

SC 13D 1 d854413dsc13d.htm SC 13D SC 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No.)* New York Community Bancorp, Inc. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 649445103 (CUSIP Number) Thomas Marcotullio c/o Reverence Capital Partners, L.P. 590 Madison Avenue, 29 th Floor New York, NY 10022 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 7, 2024 (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-l(e), 240.13d-l(f) or 240.13d-l(g), check the following box. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See 240 13d-7 for other parties to whom copies are to be sent. 1 The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. * information required on the remainder of this cover page shall not be deemed to be filed for the purpose of section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 1. Names of Reporting Persons RCP Eagle Holdings LP 2. Check The Appropriate Box if a Member of a Group (See Instructions) (a)(b) 3. SEC Use Only 4. Source of Funds OO 5. Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned By Each Reporting Person With 7. Sole Voting Power 0 8. Shared Voting Power 88,143,318 9. Sole Dispositive Power 0 10. Shared Dispositive Power 88,143,318 11. Aggregate Amount Beneficially Owned by Each Reporting Person 88,143,318 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13. Percent of Class Represented by Amount in Row (11) 8.36% (1) 14. Type of Reporting Person (See Instructions) PN (1) Calculated based on 1,053,916,944 shares of Common Stock outstanding as of June 7, 2024, as disclosed by New York Community Bancorp, Inc (the Issuer) in its Form 8-K filed with the Securities and Exchange Commissions (the SEC) on June 10, 2024. 1. Names of Reporting Persons RCP Eagle Holdings GP LLC 2. Check The Appropriate Box if a Member of a Group (See Instructions) (a)(b) 3. SEC Use Only 4. Source of Funds OO 5. Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned By Each Reporting Person With 7. Sole Voting Power 0 8. Shared Voting Power 88,143,318 9. Sole Dispositive Power 0 10. Shared Dispositive Power 88,143,318 11. Aggregate Amount Beneficially Owned by Each Reporting Person 88,143,318 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13. Percent of Class Represented by Amount in Row (11) 8.36% (1) 14. Type of Reporting Person (See Instructions) OO (1) Calculated based on 1,053,916,944 shares of Common Stock outstanding as of June 7, 2024, as disclosed by the Issuer in its Form 8-K filed with the SEC on June 10, 2024. 1. Names of Reporting Persons RCP GenPar HoldCo LLC 2. Check The Appropriate Box if a Member of a Group (See Instructions) (a)(b) 3. SEC Use Only 4. Source of Funds OO 5. Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned By Each Reporting Person With 7. Sole Voting Power 0 8. Shared Voting Power 88,143,318 9. Sole Dispositive Power 0 10. Shared Dispositive Power 88,143,318 11. Aggregate Amount Beneficially Owned by Each Reporting Person 88,143,318 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13. Percent of Class Represented by Amount in Row (11) 8.36% (1) 14. Type of Reporting Person (See Instructions) OO (1) Calculated based on 1,053,916,944 shares of Common Stock outstanding as of June 7, 2024, as disclosed by the Issuer in its Form 8-K filed with the SEC on June 10, 2024. Item1. Security and Issuer This Schedule 13D (this Schedule 13D ) relates to the Common Stock, par value U.S. $0.01 per share (the Common Stock ), of New York Community Banco

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View this SC 13D filing on SEC EDGAR