Morgan Stanley: A Big Bet on Hedge Funds
Amid the rapid growth of hedge funds—assets under management have increased 21% this year, to $1.3 trillion, according to Hedge Fund Research—big Wall Street banks are jockeying for a piece of this steadily expanding sector (see BusinessWeek.com, 10/13/06, "What's Driving the Hedge Fund Boom?"). On Oct. 31, Morgan Stanley (MS) announced that it's buying the hedge fund FrontPoint Partners. Just one day earlier, the investment bank announced plans to enter a strategic alliance with another hedge fund, Avenue Capital Group.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- This $14 Million Atlanta Home With Bunker Is ‘Safest in America’
- GE's New CEO Vows Sweeping Change After ‘Unacceptable’ Report
- These Cities Make NYC Housing Look Dirt Cheap
- Separatists Pledge to Fight On After Spain Moves to Oust Catalan Leaders
- The U.K.'s $86 Billion Pension Problem Is About to Solve Itself