Morgan Stanley has posted a $46m (€51.2m) first-quarter loss on its private equity business, which it describes as its &quotprincipal investments or merchant banking and venture capital&quot.

A spokesperson for the firm stressed that the business was not core to the bank's activities. It has around $1bn invested and has not made any further investments since its paper loss in 2000.

Morgan Stanley loses $46m on private equity

Nicholas Lockley

Morgan Stanley

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