MSCP acquires HOA property management provider RowCal

• Debevoise & Plimpton served as legal counsel to MSCP on the deal
• TD Cowen and William Blair served as financial advisors to MSCP while Robert W. Baird & Co served as financial advisor to RowCal
• MSCP invests in the middle market

Morgan Stanley Capital Partners has acquired Minneapolis-based RowCal, a provider of outsourced homeowner association property management services. No financial terms were disclosed.

RowCal CEO Jake Christenson founded the business in 2018.

On the deal, Adam Shaw, managing director and head of business services at MSCP, said in a statement, “We are delighted to partner with Jake and the RowCal team as they continue their mission of building a leading HOA property management provider. RowCal’s impressive growth trajectory coupled with a client-focused culture are a testament to what the management team has built since its founding.”

Debevoise & Plimpton served as legal counsel to MSCP. TD Cowen and William Blair served as financial advisors to MSCP while Robert W. Baird & Co served as financial advisor to RowCal.

MSCP is part of Morgan Stanley Investment Management. MSCP invests in the middle market and has $1.4 trillion in assets under management or supervision as of March 31, 2023.