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Monday, July 7, 2014

Morgan Stanley private equity arm raises $1.7 billion Asia fund, (NYSE: MS)

Morgan Stanley said on Monday that its Asia private equity unit has raised $1.7 billion in its fourth Asia fund as it seeks investment opportunities in China and South Korea. The fund, Morgan Stanley Private Equity Asia IV LP, has already made two investments from the new fund, and raised more capital than initially targeted, the Wall Street bank said in a statement.One of the key focus areas for Fund IV will be China."The last two years in China, we have seen the most attractive entry prices we have seen in the last 10 years," said Chin Chou, CEO of Morgan Stanley Private Equity Asia (MSPEA).Morgan Stanley's fund-raising comes as many banks spin off their private equity arms due to the Volcker rule.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.4% or $0.13/share to $32.62. In the past year, the shares have traded as low as $24.16 and as high as $33.52. On average, 10621600 shares of MS exchange hands on a given day and today's volume is recorded at 5994198.