Morgan Stanley to buy $700 mln property loans tied to failed Signature Bank, Bloomberg News reports

Signature Bank

15/05/2024 13:39

May 15 (Reuters) - Morgan Stanley  MS.N  has struck a
deal with an investor group to buy $700 million of property
loans tied to the failed Signature Bank, Bloomberg News reported
on Wednesday citing people familiar with the matter. 
    The loans were held by a cohort including asset management
giant Blackstone  BX.N , Canada Pension Plan Investment Board
(CPPIB) and investment manager Rialto Capital. 
    The group owns a 20% stake in a venture that holds Signature
Bank's commercial real estate loan portfolio. 
    Spokespeople for Morgan Stanley, Blackstone and CPPIB did
not immediately respond to Reuters' requests for comment. 
    

 (Reporting by Niket Nishant in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Niket.Nishant@thomsonreuters.com;))