Morgan Stanley Expansion Capital, a private investment platform within Morgan Stanley Investment Management, has raised about $400 million for North Haven Expansion Equity LP and its related funds, beating its $100 million target. Expansion Equity will focus on later-stage private companies in technology and other high growth sectors, including consumer, healthcare and media.
NEW YORK–(BUSINESS WIRE)–Morgan Stanley Expansion Capital, the growth-focused private investment platform within Morgan Stanley Investment Management, today announced that it has closed on approximately $400 million of capital commitments for North Haven Expansion Equity LP and its related funds (collectively, “Expansion Equity” or the “Fund”), exceeding its original fundraising target capital commitments by nearly $100 million. Expansion Equity will focus on identifying later-stage private companies in technology and other high growth sectors, including consumer, healthcare and media, and will build on the success of the seven prior Morgan Stanley private growth equity funds.
“We are pleased to have the continued support of our investors for our long established private growth equity strategy,” said David N. Miller, Head of Private Credit and Equity for Morgan Stanley Investment Management. “The team brings a unique blend of growth equity investing and franchise experience to a segment of the marketplace that we believe will continue to provide ample proprietary investment opportunities. As many investors look to deploy capital, we are confident Expansion Capital utilizes the right approach and a strong network to identify the most promising investments.”
The fund leverages access to the combined networks of Morgan Stanley, the Expansion Capital Team and Limited Partners of the Fund to originate investments, conduct due diligence and maximize value. The team seeks to focus on proprietary growth capital investments, such as first institutional, growth carve-out, founder liquidity and select secondary and follow-on investment opportunities. Investments are primarily located in North America and Western Europe.
“Expansion Capital is well positioned to provide later stage companies with growth financing solutions given the team’s sector experience, transactional knowledge and access to Morgan Stanley’s global network,” said Pete Chung, Head of the Morgan Stanley Expansion Capital Platform. “We believe our flexibility and willingness to both lead and syndicate transactions enable us to match financing strategies with bespoke business requirements to drive value for our portfolio and investors.”
Expansion Equity derives capital, insight and portfolio leverage from investors that include successful executives and business leaders from a broad range of industry verticals and geographies.
About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets growth equity and credit investments within technology, healthcare, consumer, digital media and other high growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 190 companies leveraging the global brand and network of Morgan Stanley. For further information about Morgan Stanley Expansion Capital, please visit www.morganstanley.com/im.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 658 investment professionals around the world and $471 billion in assets under management or supervision as of September 30, 2018. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE:MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.