Merrill Ramps Up Private-Equity Push

Merrill Lynch(MER Quote) is raising a $6 billion private-equity fund, according to an investor pitched earlier this year, as part of CEO John Thain's effort to increase the firm's presence in this area.

Merrill will reportedly contribute between $1 billion and $2 billion of its own capital to the effort, which the investor described as a "global opportunity fund," suggesting that it has the ability to invest in a range of assets and industries across the globe. Merrill hopes to raise the rest of the money from outside institutions, allowing it to collect management fees without risking so much of its own capital.

Merrill also pitched a $3 billion to $4 billion infrastructure fund late last year and two separate real estate funds: one that will invest in Asian property and one that will focus on European property, the investor says. ...