Bank of America related stories
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Temasek cuts losses in Bank of AmericaTemasek Holdings has divested its stake in Bank of America, as it seeks to reduce its exposure to OECD economies.
- Report: Hopu, Temasek buy into CCB in $7.3bn deal
A reported 6% stake sale by Bank of America in China Construction Bank has allowed Temasek to increase its 5.6% stake. For Hopu, it marks its second investment in a Chinese bank this year.
- Bain loses Japanese managing director
Junichi Shiroshita has left the firm to join Bank of America’s investment banking business in Japan.
- Merrill sells venture debt interest
Investment bank Merrill Lynch has sold €150m-worth of limited partner interests in Kreos III, a €200m European venture debt fund.
- NY Common forges ahead with private equity
The $122bn pension committed $125m to DFJ Gotham Ventures II and the PCGI/NYSCRF Emerging Europe Fund. The pension also announced it was searching for a new manager for its emerging mangers fund that was formerly run by embattled Aldus Equity.
- Sun Capital doubles down with DIP moves
The turnaround specialist, which has seen about 10 of its portfolio companies tumble into bankruptcy since last year, has extended debtor-in-possession loans to two of its bankrupt companies and plans to control them after they emerge from Chapter 11.
- Merrill Lynch veteran to head BofA private equity
Bank of America has made 14-year Merrill Lynch veteran James Forbes the head of its real estate and private equity business.
- Head of Merrill Lynch Real Estate in Asia quits
Tim Grady, the head of global commercial real estate in Asia Pacific for Merrill Lynch has quit in the latest personnel change since the bank was acquired by Bank of America last year.
- Merrill shuts Japanese private equity office
Merrill Lynch Global Private Equity has shut down its Tokyo office four years after setting up there. The firm has not closed a deal in Japan.
- FASB relaxes mark-to-market rules
New guidelines announced by the Financial Accounting Standards Board, in response to recent pressure amid increasing write-downs and stock drops, will give GPs more room to maneuver in pricing investments.