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

Signature Bank

15/05/2024 16:54

(Adds Blackstone, CPPIB's response in last paragraph)
       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. 
    Morgan Stanley did not immediately respond to a Reuters
request for comment. Blackstone and CPPIB declined to comment. 
    

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