Bank of America Corp. has set up a dedicated Private Capital M&A Group within its investment banking division to support private equity firms seeking exits for portfolio companies. The new unit was disclosed Wednesday in an internal company memo, Bloomberg reported.
The group is intended to align and coordinate the bank's product capabilities across several internal franchises - including global capital solutions, financial sponsors and industry coverage groups - with the express purpose of helping buyout firms monetize assets in their portfolios.
Leadership of the new team will be shared by Richard Peacock and Amanda Dupuy Ugarte. Peacock will continue in his role leading consumer and retail M&A, and Dupuy Ugarte will remain head of global secondary advisory investment banking, in addition to their co-head responsibilities for the Private Capital M&A Group.
Bank of America framed the initiative against a backdrop in which private equity firms are holding a large number of unsold companies for longer periods. That trend has prompted these firms to explore alternative and creative exit routes as the conventional buyout timeline evolves.
The stated objective of the Private Capital M&A Group is to increase Bank of America's share of the competitive market for private equity exits by delivering flexible, cross-product solutions that draw on the firm's multiple business lines.
By combining product teams across capital markets, sponsor coverage and industry practices, the bank aims to present a more integrated advisory offering to buyout clients confronting extended holding periods and a changing exit environment.
The announcement leaves unchanged the existing operational roles of the co-heads while adding this cross-cutting mandate. Beyond that structural detail, the memo emphasizes coordination across internal resources to address client demand for varied monetization approaches.
Contextual note: The new group was announced internally and reported externally on Wednesday, according to the internal memo cited.