EverBank Financial Corp. of Jacksonville, Fla., said Tuesday that it has received a $100 million investment from Sageview Capital LP, a private-equity firm, and that it plans to use the capital to boost its assets by 30%, to about $8 billion.
Rob Clements, the banking company's chairman and chief executive, said in a press release, "While other banks and financial institutions have needed to raise equity to shore up capital, EverBank has generated record year-to-date earnings and has a strong balance sheet, which will enable us to deploy capital offensively to take advantage of recent market disruptions."
The investment has made Sageview the largest shareholder of the privately owned EverBank.
Scott Stuart, a founding partner at Sageview, joined EverBank's board. In the release he said, "Whether it's assets or companies, we believe there are and will continue to be attractive opportunities in the financial services industry."
Last week EverBank said its profits in the first half of the year surged 162%, to $44.7 million. The results got a boost from the sale of EverBank's stake in a reverse mortgage lender to MetLife Inc. Excluding that gain, EverBank's profit climbed 8%, to $18.5 million.