Bank Of America Spinning Off $5B Private Equity Fund

Bank Of America Spinning Off $5B Private Equity Fund

CHARLOTTE, North Carolina (Reuters) – Bank of America Corp plans to spin off its last large private equity fund, with more than $5 billion in assets, and has no plans to make new private equity investments, a company spokesman said on Tuesday.

Bank of America, the largest U.S. bank by assets, will spin off BAML Capital Partners into its own unnamed firm.

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