Bank of America (BofA) has spun off its private equity fund to form North Cove Partners. Chris Birosak, Brian Gorczynski and Angel Morales have been appointed as managing directors of the new firm. The new firm, which is based in New York and has about $6 billion in assets under management, will manage private equity investments on behalf of BofA and other investors. BofA does not intend to make any new private equity investments.
Click here for the release from North Cove Partners.