China Feihe gains drive Morgan Stanley's investment revenue
Projected carried interest payments from Morgan Stanley Private Equity Asia’s (MSPEA) investment in Chinese dairy products company China Feihe were largely responsible for a near fivefold increase in annual investment revenue for the parent bank.
The private equity unit teamed up with Feihe’s chairman to privatize the company in a deal worth $147 million in 2013. MSPEA made an initial equity commitment of $28.1 million and is said to have invested...
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