"Morgan Stanley gave $300 mln to LTCM in September"
Wednesday October 14, 10:22 pm Eastern Time
Morgan Stanley gave $300 mln to LTCM in September
WASHINGTON, Oct 14 (Reuters) - Morgan Stanley Dean Witter & Co, one in a consortium of 14 financial institutions that last month bailed out Long-Term Capital Management LP with a $3.625 billion capital infusion, said on Wednesday it invested $300 million in September.
Morgan's objectives in the three-year investment in Long Term Capital Portfolio L.P.
''are to continue active management of its positions and ... to reduce excessive risk exposures and leverage, return capital ...
and ultimately realize the potential value of the LTCP portfolio.''
Morgan revealed its investment in its quarterly report filed with the Securities and Exchange Commission.
The other 13 firms in the consortium are Bankers Trust Corp. (NYSE:BT - news), Barclays Bank Plc (quote from Yahoo! UK & Ireland: BARC.L), Chase Manhattan Corp. (NYSE:CMB - news), Credit Suisse , Deutsche Bank AG (quote from Yahoo! UK & Ireland: DBKG.F), Goldman Sachs Group LP, Lehman Brothers Holdings Inc. (NYSE:LEH - news), Merrill Lynch and Co. Inc. (NYSE:MER - news), J.P. Morgan & Co. Inc. (NYSE:JPM - news), Paribas , Societe Generale , Travelers Group Inc. (NYSE:CCI - news) and UBS AG .
(http://biz.yahoo.com/rf/981014/bys.html)
(http://quote.yahoo.com/q?s=bt+cmb+cci+jpm+leh+mer&d=t) |
