Venturing into a business that led to significant losses for other investment banks several years ago, Morgan Stanley has formed a $600 million subordinated debt bridge loan fund.

Run by managing director Hartley R. Rogers, the fund has received the financial backing of several institutional investors, including First Union Corp., Charlotte, N.C., and Societe Generale, the French banking company.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.