Talks between FrontPoint Partners and Morgan Stanley are heating up again as the two firms work to hammer out an acquisition agreement.
FrontPoint, a multimanager hedge fund platform based in Greenwich, Conn., has been in on-again, off-again talks to sell itself to Morgan Stanley since last year. Word had it that FrontPoint, founded by Philip Duff, Gil Caffray and Paul Ghaffari, was initially hoping to negotiate an offer of $650 million or more. The purchase price currently under discussion would be much closer to $300 million, an insider confirmed.
FrontPoint has had to work through a number of stumbling