McKinsey's MIO unit: a case of conflict of interest?
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MCKINSEY & Co has a US$9.5 billion internal investment arm that manages money for partners and former employees and invests in everything from startups to hedge funds that bet on mergers and acquisitions.
The unit, which started operating as MIO Partners in 1992, generally uses a fund-of-funds approach while also making direct investments in companies, according to a regulatory filing. It also can make long-term, illiquid investments with "higher profit potential", the filing says.
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