Bank of America Merrill Lynch related stories
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Deloitte becomes latest to abandon fund placementSan Francisco-based Probitas Partners has capitalised on the move by hiring two of Deloitte’s former team to bolster its European business.
- Merrill Lynch signals end of Asia real estate platform
As well as selling the management of its Asian Real Estate Opportunity Fund, the bank is also offering for sale the management of all the remaining assets in the region on its balance sheet.
- JPMorgan pro strikes out on his own
Kevin Carney, a former executive director in JPMorgan’s Infrastructure Advisory team in New York, is among the growing number of infrastructure investment bankers leaving the bulge bracket to pursue advisory activity on a more retail level. He started his own firm, Infrastructure Capital Advisors, in February.
- Colony floats debt REIT
Just as Starwood Capital plans a $500m debt IPO, Colony Capital also launches its own debt vehicle, Colony Financial. This is the first time Colony has managed a REIT, according to regulatory filings.
- BofA to ‘downsize’ Merrill placement platform
The bank, which inherited the placement agent business following its merger with Merrill Lynch, will use a smaller team to manage its current clients, but will not take on any new clients.
- Korea Investment Corporation to invest $1bn in alternatives
The sovereign fund will resume overseas investments following a $3bn cash injection by the Korean government.
- SEC widens kick-back probe to examine pensions, financial firms
Goldman, Credit Suisse, UBS and Merrill Lynch are reportedly among the firms from which the US financial regulatory agency has requested information about work done in exchange for fees.
- Lone Star to start lending in Japan
The US private equity firm sees an opportunity in Japan amid moves by major banks to cut their exposure to property, according to a report.
- TPG to invest RMB550m in Chinese shoe retailer
The mega-buyout firm is poised to take a 14.5% stake in Daphne. The Hong Kong-listed business operates more 3,000 retail outlets selling its own-brand ladies footwear and major brands such as Nike and Adidas.
- Temasek cuts losses in Bank of America
Temasek Holdings has divested its stake in Bank of America, as it seeks to reduce its exposure to OECD economies.