Ruth Lee
The Charlotte Business Journal reports that a group of BofA bankers is launching an independent private-equity firm. According to the article, which we read via HousingWire’s newsfeed this afternoon, says “the group is splitting from BAML Capital Partners, BofA’s and Merrill Lynch’s combined private-equity unit, this summer.” In addition to raising cash from outside investors, the new investment entity “also will manage about $1.4 billion of BofA’s private-equity portfolio.” We can’t help wondering whether, like Sterling Bancorp, this group sees opportunity in warehouse lending to worthy independent mortgage bankers. If they do, and we think they should, we know a domestic outsource provider that could help them make the most of such a venture.
If you know Travis Hain ask him to give me a call.
