Morgan Stanley On The Prowl For Another Hedge Fund

Sep 24 2007 | 12:42pm ET

John Mack’s hunger for hedge funds is apparently still quite strong. Morgan Stanley is reportedly in talks to buy a stake in Traxis Partners. If the deal for a piece of the New York-based macro shop goes through, it would be the sixth stake in a hedge fund manager that the firm has purchased in the past year.

According to published reports, Morgan Stanley is in the market for a roughly 20% stake in Traxis, which was founded by Barton Biggs, Morgan Stanley’s former chief global strategist, and manages more than $1.5 billion. A deal could be announced within a month.

Biggs founded Traxis in 2003 with two other Morgan Stanley alumni, Cyril Moulle-Berteaux and Madhav Dhar. Traxis’ fund is up 8.3% this year after a 2.5% decline in August.

Over the past year, Morgan Stanley has purchased stakes of varying size in Brookville Capital Management, Lansdowne Partners, Avenue Capital Management, Front Point Partners and Oxhead Capital Management.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of