According to the investment bank, it is the first fund of this kind to be maintained by an alternative manager with P Schoenfeld Asset Management LP (PSAM) appointed to run the investment vehicle.
FundLogic was set up by the bank in 2006 to offer UCITS III and non-UCITS funds to investors from across the world.
Peter Schoenfeld, chairman and chief executive officer of PSAM, said: âOur UCITS fund will provide investors with access to a global event-driven strategy which includes mergers and acquisitions, stressed and distressed credit and special situations strategies, while providing them with greater liquidity and transparency - attributes we believe will make the fund attractive to new types of investors.â
Shahzad Saqidue, executive director and head of FundLogic, added that Morgan Stanley is waiting for approval from regulators to set up a number of other funds run by âalternative asset managersâ.
Previously, Morgan Stanleyâs private equity group announced the acquisition of a majority share in Zenith Vehicle Contracts Group.
By Jim Ottewill