The private-equity commitments that Central Pacific Financial Corp. of Honolulu touted in its Nov. 2 earnings release have been finalized.
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The $4.2 billion-asset company has entered into definitive agreements with Carlyle Group and Anchorage Capital LLC for a $98 million investment from each.
The news was announced late Thursday.
Central Pacific must raise a total of $325 million.
It is planning a $20 million rights offering to existing shareholders.
The investments are expected to close in the first quarter and would give each firm a board seat.
Central Pacific's current management team is expected to remain in place.
