Third time’s the charm as Morgan Stanley announced its third hedge fund deal this week. The Wall Street behemoth pinched a minority stake in London-based hedge fund Lansdowne Partners as the firm moves to rebuild its investment management business, the New York Post reports.

Morgan is paying $300 million for a 19% stake in Lansdowne, which manages over $12 billion in assets. The firm bought hedge fund  FrontPoint Partners and another stake in Avenue Capital Group earlier this week.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.