Morgan Stanley inks deals with FrontPoint, Avenue, Lansdowne

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Morgan Stanley gave its hedge fund inventory a powerful shot in the arm this week, signing three separate deals including a long-expected agreement to acquire the entirety of FrontPoint Partners.

Morgan Stanley announced on Tuesday that it had agreed to acquire FrontPoint, the Greenwich, Conn., multimanager hedge fund platform founded by Philip Duff, Paul Ghaffari and Gil Caffray. The deal, which took months to negotiate, calls for Morgan to pay about $400 million for the firm – $300 million when the deal is finalized and another $100 million within the next year.

Also this week, Morgan Stanley agreed to acquire