Friday, 29 August 2014
Last updated 14 hours ago
Nov 1 2006 | 9:57am ET
Another day, another deal. Morgan Stanley has bought a 19% stake in London-based hedge fund firm Lansdowne Partners. It is the third such deal Morgan has made with a hedge fund in as many days.
Lansdowne Partners, which was founded by Paul Ruddock and Steven Heinz in 1998, has $12 billion in assets under management. It is not known how much Morgan Stanley paid for its piece of the firm.
Owen Thomas, president of the Wall Street giant, said in a statement today that the investment fits well with Morgan Stanley’s long-term growth strategy.
While Morgan Stanley may be on a hedge fund shopping spree, the firm’s alternatives unit, which manages approximately $76 billion, is still small potatoes compared to those of its rivals, JPMorgan Chase, Goldman Sachs and Lehman Brothers – something Chief Executive Officer John Mack has repeatedly said he intends to change.
Yesterday Morgan Stanley agreed to buy Conn.-based FrontPoint Partners for approximately $400 million. And on Monday the firm bought an 18% stake in New York-based Avenue Capital Group for almost $280 million.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...