Bank of America Merrill Lynch Asia realty fund's GP responsibilities also to transfer to Blackstone
Following earlier reports in July on the transfer of management of the $2.65 billion Bank of America Merrill Lynch (BoAML) Asian Real Estate Opportunities Fund to US private equity leader the Blackstone Group, LP investors are poised to receive approximately $650 million in a settlement with the Wall Street bank, as it seeks to forestall litigation, according to reports.
BoAML has reportedly agreed with the LP advisory committee of the fund, including the Abu Dhabi Investment Council, French insurance group AXA and General Electric Pension Trust, on the proposed settlement....
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