BofA Offers Wealthy Clients Access to Private Equity Funds

Bank of America Corp. will offer investments in private equity funds to its ultra-wealthy clients, a move that comes as more financial firms give access in alternative assets to a broader swath of millionaires.

The company’s Merrill wealth unit and Bank of America Private Bank created a new program with private-market investment opportunities that will be offered to customers with at least $50 million in assets, according to a statement Thursday. The first fund will be available next month to eligible clients.