These firms, who were all invited to the event, have recently emerged as a significant challenge to Wall Street banks' longstanding dominance in the profitable corporate finance sector.
Key takeaways:
- A dinner was hosted by Morgan Stanley's top bankers in New York, where the main topic of discussion was the potential profits from the artificial intelligence boom.
- Many prominent names in private capital were present at the dinner, including Apollo Global Management Inc., Ares Management Corp., Blackstone Inc., HPS Investment Partners, KKR & Co. and Oaktree Capital.
- These firms have recently emerged as a significant threat to Wall Street banks' longstanding dominance in the profitable world of corporate finance.
- The meeting signifies the increasing interest and investment in artificial intelligence by major financial institutions.