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Laxman Pai, Opalesque Asia: Morgan Stanley Investment Management (MSIM), the asset-management arm of investment bank Morgan Stanley, raised just over $2.3 billion to invest alongside other managers in small companies.
North Haven Private Equity Co-Investment Opportunities Fund III (PECO III) closed at its hard cap with about $2.3 billion in commitments, according to a press release from the sustainable investing solutions division of the American multinational investment bank and financial services company.
The fund's predecessor raised $1.25 billion in 2022, while the firm's debut co-investment fund closed in 2018 with $425 million. PECO III is managed by Morgan Stanley Private Equity Solutions, the multi-manager private equity platform within MSIM's $240 billion alternatives platform.
Neha Champaneria Markle, the Head of Morgan Stanley Private Equity Solutions, said: "We have a long history of serving as a partner of choice to sought-after buyout funds, and the success of the PECO program is a testament to the quality and discipline of our stable of lower middle market GP relationships. We look forward to continuing to broadly support GPs whether as a limited partner, as a co-underwriting partner, as a warehouse provider, or as a financing source."
Morgan Stanley Private Equity Solutions include nearly $6 billion of commitments since inception at Morgan Stanley in 1999.
"We are proud of the strength of our robust multi-manager private equity platform a...................... To view our full article Click here
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