Bloomberg – Capital One Financial Corp., the top performer this year in the KBW Bank Index, plans to sell or restructure hedge-fund and private-equity investments prohibited by new U.S. regulations.
Capital One holds about $150 million in stakes disallowed under the so-called Volcker rule, the McLean, Virginia-based lender said in a letter to the Securities and Exchange Commission dated July 29 and made public today. The rule would bar banks from owning more than 3 percent of hedge funds and private-equity funds and investing more than 3 percent of Tier 1 capital in such funds.
