Tuesday, 29 July 2014
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…