Morgan Stanley‘s AIP Private Markets has raised $1.9 billion for two funds, the inaugural Ashbridge Transformational Secondaries Fund I LP and Private Markets Fund VII LP, the team’s seventh flagship fund. The investors included private and public pensions, corporations, insurance companies, foundations, family offices and high-net worth individuals around the world.
NEW YORK–(BUSINESS WIRE)–
The Alternative Investment Partners Private Markets Team (“AIP Private Markets”), an investment team within Morgan Stanley Investment Management, today announced the final close of two investment funds and related separate accounts, with aggregate capital commitments of $1.9 billion. This total includes commitments to the inaugural Ashbridge Transformational Secondaries Fund I LP and Private Markets Fund VII LP, the seventh installment of the team’s flagship globally diversified private markets fund.
Since its inception in 2000, AIP Private Markets has focused on providing innovative client solutions within less-efficient areas of the private markets. The team leverages its broad network and expertise in primary fund commitments, secondaries and co-investments to identify opportunities which because of size, complexity or time-sensitive nature may be overlooked or avoided by other market participants.
Ashbridge Transformational Secondaries Fund I seeks to invest in complex private equity secondary transactions providing the opportunity to acquire uniquely positioned assets with high quality, well aligned general partners.
These transactions often come in the form of lifting specific assets from existing private equity vehicles in order to position these companies for continued growth under the stewardship of the incumbent general partner.
“We believe our differentiated approach to sourcing and structuring investments will enable us to buy great companies at attractive prices without utilizing substantial leverage. The investment opportunity in transformational secondaries is especially compelling as we believe it allows us to maintain this discipline and to identify the most promising investments in both robust and challenging market conditions” said Nash Waterman, Managing Director, Co-Head of Secondaries.
Private Markets Fund VII, like its predecessors, seeks to invest opportunistically in a range of primary funds and co-investments that are diversified by strategy, geography, industry and vintage year.
“We are grateful for the strong show of support from our investors and their continued trust in our ability to deploy their capital wisely,” said John Wolak, Head of AIP Private Markets. “We believe our fundraising success is a direct result of listening attentively to our clients’ evolving needs and responding with solutions that provide exposure to attractively positioned and well-vetted private equity assets.”
Commitments to each strategy were received from a diverse group of private and public pensions, corporations, insurance companies, foundations, family offices and high net worth individuals around the world. A significant percentage of capital was raised from previous investors in one or more of the team’s private markets funds.
About Morgan Stanley Alternative Investment Partners
AIP Private Markets, an investment team within Morgan Stanley Investment Management, seeks to deliver innovative private markets solutions to a global client base. Its built-for-purpose team of 50 dedicated professionals draws on decades of investment experience across the breadth of private markets—including growth, buyouts, venture capital, credit and real assets. The team focuses on structurally compelling opportunities within less efficient markets and has committed approximately $18 billion across more than 800 investments globally through September 30, 2018.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management (“MSIM”), together with its investment advisory affiliates, has more than 658 investment professionals around the world and $463 billion in assets under management or supervision as of December 31, 2018. MSIM 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 .