Morgan Stanley Alternative Investment Partners Raises $425M For Dedicated Secondaries Fund

Jan 11 2018 | 12:15am ET

Morgan Stanley Investment Management’s Alternative Investment Partners Private Markets team has raised $425 million in capital commitments for its inaugural stand-alone private equity co-investment fund, handily beating the vehicle’s $350 million target.

The new fund, named Private Equity Co-Investment Fund I, will invest in a diversified portfolio of direct co-investment opportunities alongside high-quality private equity sponsors in buyout and growth transactions across North America and Europe, the company said in a statement. Consistent with the investment team’s broader strategy, the fund seeks to provide exposure to less efficient market segments and targets investments with sponsors who can apply specialized skills to unlock value within portfolio companies.

Since inception in 2001, the Alternative Investment Partners Private Markets team has invested approximately $3.5 billion in over 180 co-investment opportunities. Investors in the new fund include institutions such as private and public pensions, corporations, foundations and family offices, as well as high net worth individuals, from a broad range of geographies.

Morgan Stanley Investment Management had $447 billion in assets under management or supervision as of September 30, 2017.

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