Wednesday, 1 April 2015
Last updated 4 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…