Bank of America Merrill Lynch related stories
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Temasek seeks buyer for PowerSerayaThe Singaporean sovereign wealth fund could fetch an estimated $2.5bn in what will be its third power company sale in 2008.
- Bank of America names Moynihan head of private equity
The US bank will combine its $7.4bn private equity business with other divisions to create an entirely new unit after the merger with Merrill Lynch is complete. John Thain, the chief executive and chairman of Merrill Lynch, will become the president of the bank's global banking, securities and wealth management team.
- European Capital invests €30m in Arcapita-backed CEPL
American Capital’s publicly traded European affiliate has invested in the warehouse and logistics firm just a month after the Bahrain-based bank purchased it from Sagard.
- Colony gears up for diversification drive
The Los Angeles-based private equity real estate firm, famed for its opportunistic plays, is expanding into new areas. The move is being spearheaded by Colony president Richard Saltzman, the man credited with creating the first real estate opportunity fund and the modern-day REIT.
- Providence hires former Deutsche exec for debt fund
Thomas Gahan will take over the media and telecom-focused firm’s $1bn debt investment programme, which is exploring investment opportunities in the stagnant credit markets.
- TPG to invest $120m in Indian consumer finance company
The global buyout firm is to acquire a 26.7 percent stake in Shriram City Union Finance, its second investment in the Shriram Group in two years. The investment will be made from its recently closed $4bn Asian fund.
- Vision changes capital structure, builds team
The UK investment firm has added Lorenzo Russo and Daryl Cohen to its investment team and converted to a limited liability partnership in what is becoming an extremely promising market for private equity secondary investors.
- Addison exit nets Hg 3.7x return
In a sale involving both trade and private equity bidders, Merrill Lynch spin-out HgCapital has offloaded its German accounting software company for £123m after investing £33m into the business.
- Temasek annual profit doubles
The sovereign fund, which has received US antitrust approval to raise its stake in Merrill Lynch, has doubled its profits to S$18.2 billion. Though it predicts continued credit market fallout will dampen the economy, Temasek has indicated it will continue to do direct deals in financial services.
- Carlyle sells pipe maker to Russian steel giant for $3.53bn
The private equity firm purchased the company, John Maneely, for roughly $500m in 2006 and then merged it later that year with a Canadian steel company in a $1.5bn deal. During Carlyle's ownership, the company increased sales from $2.2bn to $3bn.