Some of functionality may not work while you disabled JavaScript. Enable JavaScript for better User Exprience.
Access here alternative investment news about Bofa To Sell Alternative Operations With $20B To Icapital
Private Equity

Bofa To Sell Alternative Operations With $20B To Icapital

by fa-mag.com posted 2months ago 88 views
Bank of America Corp. agreed to sell businesses that administer alternative investment feeder funds to iCapital Network, a financial-technology firm led by a former Goldman Sachs Group Inc. banker. The operations for feeder funds, which pool client money to invest in hedge funds and private equity, handle about $20 billion in client holdings, boosting the assets on iCapital’s platform by more than four times, iCapital Network said Tuesday in a statement. Terms of the deal, expected to close in the first half of next year, weren’t disclosed.