Bank of America, a provider of banking and other financial services, has completed the sale of First Republic Bank, a provider of private banking and wealth management services, to a consortium of investors. The consortium is led by First Republic’s existing management and includes investment funds managed by Colony Capital

Heidrick & Struggles International, an advisory firm providing executive search and leadership consulting services, has hired Richard Thackray and Jonathan Goldstein for its global private equity practice. Thackray joined the firm as a partner in London and Goldstein as a partner in New York. Both will focus on regional clients

The Aureos Latin American Fund has agreed to launch an investment scheme with Urbi, a home-developer in Mexico, to promote and finance low-income housing in Mexico. The scheme will provide low-income housing through both traditional mortgages and the Alternativa Urbi programme. Urbi’s rent-to-own programme provides access to housing to non-wage

Venrock, a venture capital firm originally established as the venture arm of the Rockefeller family, has closed Venrock VI, a USD350m diversified venture capital fund focusing on investments in early stage technology, healthcare and energy companies. With the close of Venrock VI, the firm holds approximately USD2.2bn under management. "The

Lyceum Capital has arranged an additional GBP25m of capital to support the growth of its portfolio firm Carewatch, the largest independent national homecare provider in the UK. The new capital, which includes additional debt facilities from Barclays Corporate and Clydesdale Bank, will enable management to continue its programme of internal

Axa Private Equity has sold its 46.5 per cent shareholding in private home builder Trecobat Group to the management team, which is increasing its capital stake and thus becomes the new majority shareholder. Marcel Treguer, the group’s founder and chairman, steps back from operations by passing on the group’s leadership

Wheb Ventures, a European clean technology private equity firm, has invested in the German company Friedola, a recycled plastics processing and products business. Wheb led the round with a EUR10.8m investment.   Friedola’s products consist of up to 80 per cent recycled materials, feedstock which is generated by its own

European financial directors are concerned about accessing sufficient levels of working capital in 2010, according to research from London-based working capital solutions provider Demica. As a result, a majority (62 per cent) believe they will be unable to make the most of economic recovery when it emerges. European corporations are