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

Morgan Stanley research on C‑corp conversions for alternative asset managers The passage is a standard investment analysis discussing potential valuation impacts of converting alternative asset managers from partnership to C‑corp structures. It contains no allegations, financial flow details, or connections to political or intelligence actors, offering no actionable investigative leads. Key insights: Morgan Stanley predicts up to 26% upside for APO if it converts to a C‑corp.; ARES is identified as a possible early converter, with earnings report on Feb 15.; Conversion could simplify K‑1 tax reporting and broaden investor base.