Private equity firms are circling over Home Capital Group as the mortgage lender continues to face its challenges.
Catalyst Capital is one of the firms with plans to recapitalize Home Capital, and would also bring in a new management team with banking experience, the Globe and Mail reported Friday.
Brookfield and Onex are among other private equity groups considering their options regarding Home Capital.
Meanwhile, the lender’s latest update on liquidity and credit capacity shows a decline to $1.06 billion on June 9, the lowest point since a week earlier. The undrawn balance of its $2 billion credit facility backed by the major banks, was down to $350 million.
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