|
Last February, speaking at the Credit Suisse
Financials Conference, Greg Fleming, president of Morgan Stanley
Investment Management, said the firm was winding down its
investments in hedge funds and that it was not part of Morgan
Stanley's long term strategy.
The source spoke on condition of anonymity because the talks are
confidential.
Morgan Stanley's bankers have narrowed down a list of potential
buyers interested in its 19 percent stake in Lansdowne,
including Boston-based Affiliated Managers Group Inc, Greenwich,
Connecticut-based Foundation Capital Partners and Neuberger
Berman's Dyal Capital, according to The Wall Street Journal.
The newspaper was the first to report the potential sale of
Lansdowne on Sunday. It cited people familiar with the matter.
(http://on.wsj.com/1zz3pbS)
The sale of Lansdowne, which has $17.5 billion in assets under
management, could be worth several hundred million dollars. UBS
AG is advising Lansdowne, according to the report.
J.P. Morgan and Highbridge Capital Management LLC, the hedge
fund and private equity firm it owns, are also in discussions
about the bank selling part of Highbridge to its management
team, but those discussions are "fluid," according to the
report.
(Reporting by Lauren LaCapra, Jessica Toonkel; Editing by Paul
Simao and Alan Crosby)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
