FrontPoint Partners’ portfolio managers are taking back control of their hedge fund firm four years after they sold it to Morgan Stanley for around $400 million.
The sale of the $7 billion firm, which is best known for its bearish bets on subprime mortgages, comes as Wall Street is preparing for new rules that restrict limit holdings of hedge funds and private equity funds. It is expected to close in the fourth quarter. Morgan Stanley will be left with a minority stake.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access