Morgan Stanley Seeking Cash From Jefferies’ Point Bonita (1)

Morgan Stanley’s asset-management business asked to redeem some money it invested in a Jefferies Financial Group Inc. fund with large exposure to the trade debt of bankrupt auto-parts supplier First Brands Group, according to people familiar with the matter.

The asset manager has been in talks to pull some of its funds invested with Point Bonita Capital, said the people, who asked not to be named because they aren’t authorized to discuss the matter publicly. Point Bonita, a unit of Jefferies’ Leucadia Asset Management, had about a quarter of its $3 billion trade-finance portfolio invested in First Brands-related ...