Wednesday, 25 November 2015
Last updated 5 hours ago
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…