(Reuters) – Morgan Stanley is looking to sell its 19 percent stake in London-based Lansdowne Partners LLP, the Wall Street Journal reported on Sunday.
J.P. Morgan and Highbridge Capital Management LLC, the hedge fund and private equity firm it owns, are also in discussions about the bank selling part of Highbridge to its management team, but those discussions are “fluid,” according to the report, which cites people familiar with the matter.
Morgan Stanley’s bankers have narrowed down a list of potential buyers interested in Lansdowne, including Boston-based Affiliated Managers Group Inc, Greenwich, Connecticut-based Foundation Capital Partners and Neuberger Berman’s Dyal Capital, according to the report.
The newspaper cited an unidentified person as saying that the sale of Lansdowne, which has $17.5 billion in assets under management, could be worth several hundred million dollars. UBS AG is advising Lansdowne, according to the report.