BofA Offers Wealthy Clients Access to Private Equity Funds (1)

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.

“Differentiated access is becoming more and more critical,” Mark Sutterlin, head of alternative investments for Merrill and Bank ...