Entering 2024, the Morgan Stanley investment banking team in Asia was very much aware that many private equity sponsors had failed to exit from their portfolio companies the previous year amid volatile market conditions. So, when a window emerged to revive the sponsor-driven exit market, the US bank was at the forefront, pushing out M&A deals.
For instance, it was a lead financial adviser to Blackstone on its $16.1 billion-equivalent acquisition of Australian data centre specialist AirTrunk, and advised Nord Anglia Education on its $14.5
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