Bloomberg – Bank of America Corp., under government pressure to curb private-equity investments, plans to sell $1.2 billion of commitments to funds managed by Warburg Pincus LLC as about 30 employees join two new bank-affiliated ventures, said two people with direct knowledge of the matter.
Jason Cipriani, head of strategic fund investments, and about 10 colleagues are forming an office for Sterling Stamos, the New York investment firm, the people said, speaking on condition of anonymity because the moves haven’t been publicly announced. Travis Hain, a managing director who guides direct investments in companies, and about 20 bank employees are forming a separate firm, according to Bank of America spokesman Jerry Dubrowski.
