Morgan Stanley infrastructure investing unit buys New Zealand ferry operator

Morgan Stanley’s MS, -1.10% investing unit Morgan Stanley Infrastructure Partners said Thursday it paid an undisclosed sum to acquire New Zealand ferry operator StraitNZ from Australian firm CPE Capital Oty Ltd. The purchase price was more than $500 million, according to a report by the Australian Financial Review. Mark McLean, managing director and head of Asia Pacific Investing for Morgan Stanley Infrastructure Partners, led the deal. Morgan Stanley shares rose 0.9% on Friday and are down 10.1% in 2022 compared to a drop of 4.7% by the S&P 500.