People's United Financial, Inc., was an American bank holding company that owned People's United Bank, operating 403 branches across Connecticut, southeastern New York State, Massachusetts, Vermont, Maine, and New Hampshire. As the second-largest full-service bank in New England and one of the largest in the northeast, it was the 46th-largest bank in the United States. The firm typically engaged in post-IPO debt rounds, focusing on substantial investments in established companies.
Notable portfolio companies include Invesque, which raised $80 million, and MVC Capital, which raised $50 million. Key decision-makers included Chairman George P. Carter. People's United Financial provided significant value-add services through its extensive network and financial expertise, leveraging its position as a major regional bank to support portfolio companies. The firm merged into M&T Bank in 2022.
People's United Financial - Portfolio Snapshot
Portfolio activity breakdown across disclosed investments and stages
Total Investments2
Current Portfolio Count2
Total Portfolio Exits0
Top Investment Stages
Post Ipo Debt1 (50.0%)
Public1 (50.0%)
Stage Mix
Post Ipo Debt 50%Public 50%
Concentration shown as share of disclosed investments by stage.
People's United Financial - Classification
- Also Known As
- People's United Bank N.A.
- NAICS
- 520000Finance and Insurance
- 522000Credit Intermediation and Related Activities
- 522100Depository Credit Intermediation
- 522110Commercial Banking
- SIC
- 6000Depository Institutions
- 6020Commercial Banks
- ISIC
- 6419Other monetary intermediation
Show 4 more industry codes
- NAICS
- 522180Savings Institutions and Other Depository Credit Intermediation
- SIC
- 6030Savings Institutions
- 6035Savings Institutions, Federally Chartered
- 5000Wholesale Trade-durable Goods