Argan Said to Be Seeking Investors for $576 Million Fund

Argan Capital, the former European private-equity unit of Bank of America Corp., is in talks to sell stakes in the 425 million-euro ($576 million) fund it manages, according to three people with knowledge of the matter.

Argan hired Credit Suisse Group AG to find new investors to replace existing ones in the fund, which was raised in 2006, said the people, who asked not to be identified because the talks are private.

Those currently in the London-based firm’s fund will be able to sell at a valuation set by new investors or roll over their commitments, the people said. A deal would allow the fund to be extended by about three years beyond its expected 2016 end date and may also provide new capital for future transactions, they said.

Argan, which is led by managing partners Wojciech Goc, Carlo Mammola and Lloyd Perry, owns stakes in companies including Humana Group Holding AB, a Stockholm-based health-care operator, and Polish security-products maker AAT Holding sp. z. o.o., according to the buyout firm’s website.

An Argan spokesman declined to comment, while a spokesman for Credit Suisse didn’t respond to a call seeking comment.

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