Morgan Stanley Investment Management Raises $1.2Bn for Later-Stage Growth Equity and Credit Investments

Rhea-AI Summary

Morgan Stanley Investment Management (MSIM) has successfully closed on approximately $1.2 billion of total equity capital commitments for North Haven Expansion Equity IX and North Haven Expansion Credit II, exceeding the target raise of $850 million by over 40%. Managed by Morgan Stanley Expansion Capital, the funds will be used to fund later-stage growth equity and credit investments in the technology, healthcare, consumer, digital media, and other high-growth sectors. Expansion Capital has a successful track record of over three decades, having completed investments in over 200 companies, and is part of MSIM's $230 billion alternative investments business. The team brings deep growth investing and industry expertise, supported by Morgan Stanley's global resources and brand.

NEW YORK--(BUSINESS WIRE)-- Morgan Stanley Investment Management (“MSIM”) announced today that it has closed on approximately $1.2 billion of total equity capital commitments for North Haven Expansion Equity IX and North Haven Expansion Credit II to fund later-stage growth equity and credit investments in the technology, healthcare, consumer, digital media and other high-growth sectors. The funds, managed by Morgan Stanley Expansion Capital (“Expansion Capital”), exceeded the target total raise of $850 million by over 40%.

Pete Chung, Head of Expansion Capital commented: “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.”

Part of MSIM’s $230 billion alternative investments business, Expansion Capital predominantly invests in later-stage private companies with established products and services that are seeking capital to scale revenue and expand business operations. For over three decades, Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 200 companies, leveraging the global brand and network of Morgan Stanley.

“We are pleased to have the continued support of our investors for both of these strategies,” said David N. Miller, Head of Morgan Stanley Private Credit & Equity. “The Expansion Capital team brings a deep growth investing and industry expertise, supported by Morgan Stanley’s global resources and brand.”

About Morgan Stanley Investment Management

Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,300 investment professionals around the world and $1.4 trillion in assets under management or supervision as of September 30, 2023. Morgan Stanley Investment Management 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 a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231207494455/en/

Media Relations Contact: Alyson Barnes, +1 646 536 1733

Source: Morgan Stanley Investment Management

FAQ

What is the total equity capital commitments raised by MSIM for North Haven Expansion Equity IX and North Haven Expansion Credit II?

MSIM has successfully closed on approximately $1.2 billion of total equity capital commitments, exceeding the target raise of $850 million by over 40%.

What sectors will the funds be used to invest in?

The funds will be used to fund later-stage growth equity and credit investments in the technology, healthcare, consumer, digital media, and other high-growth sectors.

How many companies has Expansion Capital completed investments in?

Expansion Capital has completed investments in over 200 companies, leveraging the global brand and network of Morgan Stanley.

What is the total value of MSIM's alternative investments business?

MSIM's alternative investments business is valued at $230 billion.

Who is the head of Expansion Capital?

Pete Chung is the Head of Expansion Capital, and David N. Miller is the Head of Morgan Stanley Private Credit & Equity.