Bank of America related stories
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Blackstone brings BoA Merrill Lynch ‘third party’ exit closerIn the latest sign that the investment banking sector is withdrawing from managing private equity real estate funds, Bank of America Merrill Lynch has agreed a deal to hand over the management of the assets in its $2.65 billion Asian Real Estate Opportunities Fund and other real estate assets to The Blackstone Group.
- Oaktree, Avenue buy US golf resort for $198m
The firms will acquire the bankrupt Sea Island resort in a restructuring that will wipe away $340m of the company's debt.
- MCap sets target of up to $300m for maiden fund
The firm started by ex-Baring PE Partners India partner Subbu Subramaniam is in the market and close to securing an anchor commitment.
- Ridgemont Private Equity spins out of BofA
The firm, co-led by Travis Hain, will manage BofA assets and raise third-party capital.
- BofA spinout to manage legacy assets, raise new funds
Two groups of Bank of America private equity professionals are spinning out: one will form an independent fund while the other will join asset manager Sterling Stamos.
- New York State Teachers commits $198m to PE
The state pension fund has made recent commitments to Texas-based Lone Star Funds and UK-based mid-market firm Inflexion.
- Colony purchases Miramax for $660m
The Los Angeles-based firm joined the bidding process for Disney's troubled film studio earlier this month.
- Lazard hires European private equity co-head
Fotis Hasiotis will join Lazard in November to co-lead its financial sponsor coverage group in Europe.
- Colony, GA finalise $1.9bn bank deal
The two investment firms backed a management buyout of First Republic Bank from Bank of America, injecting $1.86bn of fresh equity into the deal.
- Blackstone, Bain fund interests back at par
Two bellwether mega-funds are trading at or near par on the secondaries market, a big change from 2009, when these stakes were valued nearly 70% beneath GP-assigned values.