Monday, 4 May 2015
Last updated 9 hours ago
Apr 27 2011 | 12:00pm ET
Bank of America has sold off a big chunk of its private equity assets to four private equity firms.
The investment bank agreed to sell its non-real estate private equity portfolio in Asia to NewQuest Capital Partners, a new firm backed by four other p.e. shops. Most of the assets were acquired by Merrill Lynch before its sale to BofA.
NewQuest, which has received commitments totaling about $400 million, is headed by four BofA Merrill Lynch veterans, Darren Massara, Amit Gupta, Bonnie Lo and Min Lin. Massara is managing partner.
The acquisition of the roughly 20 holdings was financed by Axiom Asia, HarbourVest Partners, LGT Capital Partners and Paul Capital.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…