NEW YORK CITY-Private equity firms have approached Morgan Stanley for acquiring a stake in its non-performing real estate funds management operations, valued at $8.8 billion.
Colony Capital has contacted Morgan Stanley in this regard while TPG and Kohlberg Kravis Roberts have expressed interest in buying a stake. The prices proposed by the potential investors are said to be low in light of the fund's inability to return profits or fees For the full story, go to The New York Times.
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