Morgan Stanley sold $ 5 billion in collapsed Archegos fund
Morgan Stanley sold $ 5 billion in collapsed Archegos fund overnight ahead of massive sale7 aprile, 2021 da Bright UzbekistanMorgan Stanley outpaced the competition by selling $ 5 billion in assets from the collapsed Archegos fund the night before a massive sale by other banks. According to CNBC, Morgan Stanley offered the shares at a discount, without revealing to buyers that it was just the first package to hit the market soon. This helped him to avoid significant losses, unlike some other investment banksMorgan Stanley began to close the positions of the family office of Archegos Capital late in the evening of March 25, on the eve of a massive sale of shares by investment banks due to a margin call. This is reported by CNBC with reference to the interlocutors who agreed to talk about the transactions on condition of anonymity.According to them, Morgan Stanley sold shares of about eight companies, including Baidu and Tencent Music, to a small group of hedge funds on the evening of March 25, for a total value of $ 5 billion, including a discount. Morgan Stanley explained to buyers about the sale that one of its clients was facing a margin call and was trying to avoid a crash. However, the investment bank did not disclose that the proposed package is only the first of those that will be put up for an "unprecedented" sale the very next day, CNBC notes.