Morgan Stanley Is Said in Talks to Buy Assurant’s CLO Assets

Morgan Stanley is in talks to buy Assurant Inc.’s collateralized loan obligation assets, taking another step in beefing up its leveraged credit business, according to people with knowledge of the matter.

An agreement could be reached in the coming week, said the people, who requested anonymity because the talks are private. A deal hasn’t been finalized and it’s possible one may not be reached, they said.

A spokesperson for Morgan Stanley declined to comment and representatives of Assurant didn’t immediately respond to requests for comment.

Assurant’s CLO notes exposure, at fair value, was $1.6 billion as of March 31, ...