Morgan Stanley Investment Management is stepping up efforts
to build out its hedge fund platform. It is also taking the
business in a new direction, seeking to employ its managers
in-house, rather than backing spinouts and outside stars, as it
did successfully in 2003 with Barton Biggs' Traxis
The first manager on the new platform will be Michael
Feldschuh, a veteran of such big hedge funds as Millennium
Partners and D. E. Shaw....