Bank of America related stories
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GTCR buys $1.4bn BofA insurance unitRussell Investments' former CEO Andrew Doman will take over the reins at Premium Credit, which specialises in insurance payment plans.
- MidOcean to aquire Italian restaurant chain Sbarro
The management team of the quick-service Italian food chain, led by restaurant industry veteran Peter Beaudrault, will remain in place following the transaction as the firm undertakes a global expansion of the Sbarro’s franchise.
- Buyout bigs back $11bn orthopedic deal
Blackstone, Goldman Sachs, KKR and TPG have agreed to take private Biomet, a maker of replacement joints, alongside the company’s founder. At the same time, Biomet is investigating stock option back-dating practices approved by senior management.
- Former Ford advisor to lead Cerberus in Europe
Cerberus European Capital Advisors has hired Kenneth Leet to oversee the firm’s European office just one month after former US treasury secretary John Snow joined as its chairman.
- BofA exec seeks $1bn for Indonesia
Former Bank of America executive 'Chad' Christopher Holm has formed Yawadwipa and intends to raise a $1bn Indonesia-focused fund, tapping into one of Asia’s largest growing economies.
- Cogent promotes three
The private equity-focused investment bank has made three promotions in London and Dallas.
- Lloyds is latest bank to mull PE sale
Lloyds Banking Group, part-owned by the UK state, is mulling the sale of about €500m of private equity fund stakes as it follows other lenders in divesting non-core assets.
- Illinois Municipal hires private equity specialist
The $25bn pension system has named Dhvani Shah, head of private equity at the New York State Teachers’ Retirement System, as chief investment officer.
- Babson boosts team
Babson Capital Management has bolstered its mezzanine and private equity group by hiring Vik Thadani, who will help to boost its coverage of the Asia-Pacific region.
- General Atlantic takes stake in Oak Hill
US buyout firm General Atlantic has acquired a stake in distressed debt specialist Oak Hill Advisors in a further sign of private equity’s appetite for debt investments.