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Hovde Private Equity Advisors is the private equity investment arm of financial services firm, The Hovde Organization. Hovde Private Equity was created to invest in financial services companies, including banks, non-depository institutions, and other financial service providers. Hovde targets US based opportunities. Hovde Private Equity was formed in 1994 and is based in Chicago, Illinois.
|Overall||4 of 8|
|Sector (Financial Services)||4 of 8|
|Type (Trade Sale - Public Company)||3 of 6|
|Country (United States)||4 of 8|
|Year (2000)||2 of 3|
|Size (of disclosed)||1 of 1|
North County Bancorp
Escondido, California, United States
the Board of Governors of the Federal Reserve System and the California Department of Financial Institutions.
Bank of Hollywood
Los Angeles, California, United States
Beginning in 1996, Hovde Acquisition affiliates acquired shares of Bank of Hollywood and, in 1998, received change in control approval from the Federal Deposit Insurance Corporation, and the California Department of Financial Institutions, and entered into passivity commitments with the Board of Governors of the Federal Reserve System to acquire in excess of 9.9% of Hollywood's outstanding shares. Hollywood was sold in February 2000 to PBOC Holding Inc., resulting in a gross IRR of 33.4% on an investment of approximately $1.1 million.