Morgan Stanley buys 19% of Lansdowne


Morgan Stanley has signed a definitive agreement to acquire 19% of London-based Lansdowne Partners as part of a flurry of hedge fund investments by the US investment bank this week.

In the last three days the firm has also announced that it is buying a minority stake in Marc Lasry's New York-based Avenue Capital and plans to acquire the whole of FrontPoint Partners, also based in the US.

Morgan Stanley has had a very close relationship with Lansdowne since the firm's launch in 1998, acting as main prime broker to all of Lansdowne's five hedge funds - covering European equity,