Date:24/04/2008 URL: http://www.thehindubusinessline.com/2008/04/24/stories/2008042452301700.htm

Back Morgan Stanley launching PE fund from May 1

Our Bureau

Mumbai, April 23 Morgan Stanley said its private equity division Morgan Stanley Private Equity is establishing its presence in India from May 1.

The announcement builds on Morgan Stanley’s growing presence in the country, following the decision last year to develop a wholly-owned integrated platform in the country, encompassing the full range of business it conducts globally, a statement from the firm said.

The firm also said it has appointed Mr Aluri Srinivasa Rao to be a senior member of its Asia private equity team and to run the group’s private equity investments in the country.

Mr Rao joins from ICICI Venture as a Managing Director.

Morgan Stanley has been active in the country since 1993. Its operations in India include the business areas of Institutional Equities Sales, Trading and Research; Investment Banking Advisory and Underwriting; Investment Management (Mutual Funds, Real Estate Investing and, now, Private Equity); and Morgan Stanley Advantage Services.

Morgan Stanley has announced plans to launch a private wealth management business in the country later this year.