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Rating:Prospective Buyers Camp Out at a Chicago-Area Fund Firm Not Rated 3.0 Email Routing List Email & Route  Print Print
Saturday, August 22, 2009

Prospective Buyers Camp Out at a Chicago-Area Fund Firm

by: Armie Margaret Lee

"Several financial firms" have approached Morgan Stanley about buying its Van Kampen Investments subsidiary, the Wall Street Journal reported. Oakbrook Terrace, Illinois-based Van Kampen, which has AUM of about $86 billion, could fetch least $1 billion if Morgan Stanley decides to part with it, the report stated. The WSJ did not identify the interested buyers.

Morgan Stanley purchased Van Kampen American Capital in 1996 for $1.2 billion.

Reuters first reported on Friday afternoon that Morgan Stanley was again examining options for its subsidiary. In the spring of last year, Morgan Stanley engaged in formal discussions with Janus Capital Group regarding a possible combination of Janus and Van Kampen, and other segments of Morgan Stanley's asset management business, Reuters reported, citing an anonymous source.

Those talks, however, fizzled because Morgan Stanley wanted a controlling stake in the combined entity, according to the report.

Van Kampen could draw interest from the likes of Invesco, Nuveen Investments, Federated Investors and Franklin Resources, Reuters reported.

Morgan Stanley spokeswoman Erica Platt declined to comment on the news reports. 

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