Davis Polk & Wardwell LLP is advising Corsair Capital LLC on the acquisition by its affiliate of a 9.9% equity stake in East West Bancorp Inc. Corsair’s investment is part of East West’s capital raising in connection with its acquisition of failed United Commercial Bank, which includes a loss-sharing arrangement with the Federal Deposit Insurance Corp.

East West Bancorp, Inc. is the parent company of East West Bank, the second-largest bank headquartered in California and the largest bank in the nation focused on serving the Asian American community.

The Davis Polk corporate team includes partner Leonard Kreynin of the New York office, associates Stephen Salmon and Nicholas M. Janof of the Menlo Park office and associate Brian J. Snyder of the New York office. Partners John L. Douglas and Arthur S. Long and associate Christine E. Graham are providing bank regulatory advice. Partner Harry Ballan and associate Ari Weinstein are providing tax advice. Partners Daniel N. Budofsky and Mark M. Mendez and associate Rafal A. Nowak are providing equity derivatives advice. Counsel Stephen M. Pepper is providing antitrust advice. Except as noted above, all members of the Davis Polk team are based in the New York office.