Behind Morgan Stanley's hedge fund bloom

The man behind Morgan Stanley's alternative investments strategy is Stuart Bohart, who formerly ran the prime brokerage business before his current job. He's quick to point out that Morgan Stanley isn't aiming to build a hedge fund business. Rather, it is building a top-notch service for institutional investors with a wide range of investment needs. That would suggest that the firm is looking at building out or buying private equity players. Morgan Stanley plans to raise $7 billion to $8 billion in a buyout fund by next year. But an acquisition wouldn't be out of the question. I would also expect him to continue to focus on hedge funds. Another deal wouldn't be a huge surprise. He's been on the job since May, and his charge is to lift Morgan from lowly No. 27 according to Alpha magazine.  

For more:
- here's an article from MarketWatch