Tuesday, January 15, 2008

Morgan Stanley Buys Stake In Cleantech VC NGEN Partners

Morgan Stanley announced Tuesday that it has taken a stake in Santa Barbara-based cleantech firm NGEN Partners LLC. Amount of the minority equity investment was not disclosed. Morgan Stanley claimed that the investment was the first by a major Wall Street firm in a clean technology venture firm. NGEN Partners is an investor in the alternative energy, energy efficiency, pollution abatement, and other related areas. Morgan Stanley said that the stake represents an "exciting investment opportunity" for the firm.