FrontPoint Partners, Morgan Stanley’s hedge-fund unit, has plans to use its $2.6 billion FrontPoint Multistrategy Fund to launch five new strategies. The relative value, global-emerging markets and global equity long/short strategies of the fund were cut as a result of undesirable performance. In October of last year Morgan Stanley and FrontPoint decided to have…
Tag Archive: Steve Eisman
Morgan Stanley Grants Independence to FrontPoint
Well it has happened, FrontPoint is going on its own as Morgan Stanley has ceded control over the hedge fund to its managers 4 years after it bought the firm. Managers at FrontPoint, led by co-chief executive officers Daniel Waters and Michael Kelly, are set to receive a majority stake as the asset manager and…