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Laxman Pai, Opalesque Asia:

Morgan Stanley Investment Management (MSIM) closed on approximately $1.2 billion in total equity capital commitments for North Haven Expansion Equity IX ($725 million) and North Haven Expansion Credit II ($450 million).

The funds, managed by Morgan Stanley Expansion Capital, exceeded the target total raise of $850 million by over 40%, said a media release from the New York firm with $1.4 trillion in assets under management.

The two new vehicles will invest in later-stage growth equity and credit investments in the technology, healthcare, consumer, digital media, and other high-growth sectors. Expansion Capital focuses on providing capital to help later-stage private companies with established products and services expand their business operations and grow revenue at scale.

Pete Chung, Head of Expansion Capital said: "As a global brand targeting later-stage, private companies where the same investment team has the flexibility to offer either equity or credit solutions, we believe these two new funds will allow Expansion Capital to continue our long history of providing bespoke financing solutions just as the market is seeing a pullback from both growth equity investors and venture lenders."

"Our consistent emphasis on disciplined, efficient portfolio company financial performance remains core to our strategy and is a fundamental component of our success as a platform," Pete added.

Part of MSIM's $230 billion alternative investment......................

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