As debate drags on over the Volcker Rule, banks are settling in for the long haul, sister magazine Buyouts reports. Those that have decided to exit the buyouts game have largely done so, while those remaining appear to be relying on their own balance sheets, rather than bringing in outside investors, under other provisions of [...]

Investment firms are being spun out of banks left and right—some, to keep companies in compliance with the new requirements imposed on banks via Dodd-Frank. peHUB has been tracking some of the spin-outs seeking capital, and some others, that have not yet needed to fundraise—but soon, might. While the fundraising market has been generous to some private equity firms, other PE shops could face difficulty bringing in capital absent of their big-brother LPs. Only time will tell….

NEW YORK, June 2 (Reuters) – Bank of America Corp spun off its last large private equity fund as it complies with post-crisis financial reform, creating North Cove Partners with more than $6 billion under management. North Cove will manage private equity investments on behalf of Bank of America and other investors, it said on [...]

North Cove Partners said Thursday that it has spun off from Bank of America to create an independent private equity firm. North Cove will continue to manage over $6 billion of private equity investments on behalf of Bank of America and other investors, the firm said, adding that it would raise a new fund in the “near future.” Managing Partners Chris Birosak, Brian Gorczynski and Angel Morales lead the New York-based firm. Each were managing directors of Merrill Lynch Global Private Equity, and, after the Merrill Lynch, Bank of America merger, for BAML Capital Partners.