Morgan Stanley research note on C‑corp conversions for alternative asset managers

Summary

Morgan Stanley research note on C‑corp conversions for alternative asset managers The passage is a standard investment research brief discussing potential valuation effects of corporate structure changes for asset managers. It contains no specific names, transactions, dates, or allegations linking powerful individuals or entities to misconduct, making it low‑value for investigative leads. Key insights: Discusses potential upside (26%) and downside (-14%) of C‑corp conversions for alternative asset managers.; Mentions ARES as a possible first mover, but notes the idea may already be priced in.; Includes a standard conflict‑of‑interest disclaimer from Morgan Stanley.