Morgan Stanley raises $1 billion for second credit fund

By Lauren Tara LaCapra NEW YORK (Reuters) - Morgan Stanley said it has raised about $1 billion for a new credit fund, the latest in a series of private equity-type vehicles it is raising despite a new regulation that limits the bank's own participation in such funds. The new fund, called Morgan Stanley Credit Partners II LP, is the second of its kind housed in the Wall Street bank's merchant banking and real estate business. The first fund, which closed in 2011, was the same size. ...