A group led by Starwood Capital Group LLC won the bidding for the assets of Corus Bankshares Inc., the Chicago lender seized by regulators after its portfolio of construction loans soured, according to people familiar with the decision.

Private-equity firm TPG was also part of the winning group in an auction run by the Federal Deposit Insurance Corp., said the people, who declined to be identified because the process is private. FDIC spokesman Andrew Gray declined to comment. Starwood spokesman Tom Johnson and TPG spokesman Owen Blicksilver declined to comment.

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