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