BoA will retain Merrill Asia property funds
Bank of America is no longer selling Merrill Lynch's $2.65 billion Asian property fund business, which the US bank had originally planned to divest among other non-core businesses following its acquisition of Merrill at end 2008 during the financial crisis.
BoA was reportedly in talks with several private equity firms, including Blackstone Group and Apollo Investment Management, to sell management rights to its Asia Real Estate Opportunity Fund, which BoA...
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