Asset management firm Invesco will buy Morgan Stanley’s retail investment management business for $1.5 billion in stock and cash. Invesco, based in Atlanta, will pay $500 million in cash and give 44.1 million shares worth $1 billion to Morgan Stanley, providing Morgan Stanley a 9.4 percent stake in Invesco.
The purchase includes Morgan Stanley subsidiary Van Kampen Investments, a mutual fund company and one of Morgan Stanley’s core retail asset management brands. Van Kampen managed $86 billion of client assets as of June 30, according to Morgan Stanley.
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