Thomas Faust, who engineered the sale of Eaton Vance to Morgan Stanley, is beginning his next act: helping out mutual fund managers who are facing redemption requests.

Faust, 67, took the majority stake in ReFlow Services, which manages a private fund that buys shares of mutual funds seeking to offset outflows. The terms of the transaction, announced Tuesday, weren’t disclosed. He is buying out several investors, including ReFlow’s founder and some former executives as well as Figure Asset Management, a unit of blockchain firm Figure Technology Solutions.