Diamond’s Atlas Raises About $150 Million for Regional-Bank Bets

Bob Diamond’s Atlas Merchant Capital raised roughly $150 million so far for a fund dedicated to investing in US regional banks, according to a person with knowledge of the matter.

The firm recently held a first close on the vehicle, known as AMC US Regional Depository Fund LP, said the person, who asked not to be identified discussing confidential information. Atlas Merchant is seeking $500 million in total for the fund, according to a securities filing, which confirms an earlier Bloomberg News story.

Read More: Diamond’s Atlas Seeks $500 Million for US Regional-Bank Bets

An Atlas Merchant representative ...