Bank of America related stories
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Baring India founding partner quitsSubbu Subramaniam has quit the India-focused private equity firm, reportedly due to differences with managing partner Rahul Bhasin.
- Golden Gate wins Eddie Bauer auction with $286m bid
The San Francisco-based firm beat CCMP Capital Advisors, which submitted a $202m bid for the company in June.
- Report: Hopu takes stake in Chinese dairy
The reported co-investment in China Mengniu Dairy Company alongside China-backed COFCO marks the second private equity investment in a Chinese dairy firm in as many months.
- Suddenly, assets are an asset
With cash flow-based lending on the wane, can asset-based lenders step up to the plate? Christopher Witkowsky investigates
- Fortress exited Jackson investments
Fortress Investment Group, which bought more than $250m of Michael Jackson's debt in 2003, has no remaining investments related to the pop star, according to sources. Private equity had played a role in helping Jackson avoid bankruptcy in the past few years.
- 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.
- CCMP is high bidder for bankrupt Eddie Bauer
Clothing retailer Eddie Bauer filed for bankruptcy Wednesday and agreed to be acquired by CCMP Capital Advisors for $202m. CCMP becomes the high bidder for the company but could still be outbid.
- Oak Hill closes $3.8bn Fund III
The mid-market firm, established by Robert Bass in the 1980s, secured the backing of major pension investors for its latest investment vehicle.
- Cerberus holds $700m claim in Extended Stay bankruptcy
Cerberus expects to make a 100% recovery on the secured $700m loan. The hotel group was acquired by an investor group led by private equity real estate firm Lightstone Group in June 2007 for $7.4bn. There are no plans to close or sell the hotels.
- Leeds hits halfway mark on $1bn fund
The New York-based private equity firm also has named former US Secretary of State Colin Powell as chairman of its advisory board. The firm has continued to invest in the market downturn, buying Israel-based library automation solutions company Ex Libris last August.