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PE Firms Bidding for BofA's First Republic

Stock quotes in this article: BAC , BX  

Carlyle Group, Blackstone(BX Quote) and TPG are leading a group of bidders in talks to buy Bank of America's (BAC Quote) First Republic Bank, a report says.

The private-equity firms may partner with First Republic Chairman James H. Herbert II, Bloomberg reports, citing a person familiar with the matter.

Bank of America is looking to sell businesses like First Republic to raise capital. The bank received $45 billion in funds from the U.S. government to help shore up its balance sheet. ...

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