Morgan Stanley Alternative Investment Partners said Wednesday that it raised $720 million for Morgan Stanley Private Markets Fund V and $580 million for related separate accounts. The roughly $1.3 billion exceeded AIP’s target of $1.25 billion.
Morgan Stanley Alternative Investment Partners (AIP) has been awarded approximately $1.3 billion in commitments for Morgan Stanley Private Markets Fund V (PMF V) and certain other separate accounts. AIP’s strategy is to combine primary funds, co-investments and secondaries in one globally diversified portfolio of private equity investments. The capital raise, which includes $720 million for PMF V and $580 million for related separate accounts, exceeded AIP’s initial $1.25 billion target.
“We are very gratified by the success of our business development efforts in this challenging fund raising environment,” said Jacques Chappuis, Head of AIP. “We believe that our deep experience and our unique investment approach – as well as our differentiated results – contributed to the strong demand.”
The objective of PMF V and the related separate accounts is to provide investors with superior risk-adjusted returns while providing exposure to three main private equity strategies globally – buyouts, venture capital and special situations. AIP’s investment strategy emphasizes less efficient market segments and targets managers with differentiated skill sets in the U.S., Western Europe and emerging private equity markets.
“We are investors, not capital allocators,” said Tom Dorr, CIO and Head of the AIP Private Equity Fund of Funds Team. “Fundamentally, we are value oriented and highly opportunistic. We cast a wide net to find new opportunities where managers have a demonstrable competitive advantage relative to their peer set.”
Morgan Stanley Alternative Investment Partners (AIP), part of Morgan Stanley Investment Management, provides innovative alternative solutions across private equity, hedge funds, real estate and diversified alternatives. AIP’s dedicated investment teams draw on a deep understanding of alternative investment strategies formed over decades of investment experience and apply this expertise and insight to bring thoughtful, opportunistic and innovative solutions to clients. For further information about AIP, please visit www.morganstanley.com/aip.
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 43 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.