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Morgan Stanley (NYSE:MS) shares are trading slightly lower in the morning session on Tuesday after gaining over 3% yesterday. In fact, shares of banks and financial services stocks are trading higher amid the 2024 U.S. presidential election results.
According to Benzinga Pro, MS stock has gained over 76% in in the past year. Investors can gain exposure to the stock via iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSE:IAI) and Invesco KBW Bank ETF (NASDAQ:KBWB).
Today, Morgan Stanley Expansion Capital disclosed an investment of $20 million in NovoPayment. The funding will help NovoPayment accelerate product and commercial growth. It will also strengthen NovoPayment’s position in the banking and payment vertical SaaS market.
Yesterday, investment funds managed by Morgan Stanley Capital Partners (MSCP) entered into an agreement to sell Sila Services to Goldman Sachs Alternatives. Financial details of the deal were not disclosed.
The transaction will see Sila’s management continue to lead the company, retaining a significant minority stake. Sila, headquartered in King of Prussia, Pennsylvania, provides residential HVAC, plumbing, and electrical services across the U.S. Northeast, Midwest, and Mid-Atlantic regions.
Sila Services was MSCP’s first investment and now its first exit in the growing distributed field services sector, a key part of its Business Services vertical.
Since investing in Sila, MSCP has expanded its portfolio with other distributed field services companies, including Fairway Services, Allstar Services, RowCal, and American Restoration.
Price Action: MS shares are trading lower by 0.99% to $132.20 at last check Tuesday.
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