January 2014

Posted on January 7, 2014 by ceoweb

Bank of America Merrill Lynch Introduces Innovative Pay-for-Success Program in Partnership With New York State and Social Finance Inc.
New Social Impact Partnership Gives Qualified Private and Institutional Investors the Opportunity to Fund Social Change
SOURCE: Bank of America
DESCRIPTION:

December 30, 2013 /3BL Media/ - Bank of America Merrill Lynch today announced a social impact partnership with New York State and Social Finance Inc. that resulted in a successful capital raise of $13.5 million to fund a new pay-for-success program. The offering proceeds provided by private and institutional investors will be used to fund a 5 ½-year program focused on comprehensive reentry employment services to 2,000 formerly incarcerated individuals in New York City and Rochester, N.Y read more.http://markets.financialcontent.com/mng-lang.presstelegram/news/read/26016047/bank_of_america_merrill_lynch_introduces_innovative_pay