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Morgan Stanley Investment Management Significantly Exceeds Target With Second Co-Investment Fund
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Morgan Stanley Private Markets Solutions announced the final close of Private Equity Co-Investment Fund II (PECO II), raising $1.25 billion, significantly exceeding its target of $750 million. The fund focuses on co-investments in small- and mid-cap companies in North America and Europe, continuing a 23-year legacy with nearly $4 billion in commitments. Head of Private Markets Solutions, Neha Champaneria Markle, emphasized client trust, while Portfolio Manager Michael Carroll highlighted the team's strong platform and relationships driving this success.
Positive
PECO II closed with $1.25 billion, exceeding the $750 million target.
Oversubscription indicates strong demand and investor confidence.
Continues 23-year track record, adding nearly $4 billion in commitments.
Team's strong sourcing and efficient execution lead to attractive co-investment returns.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
Morgan Stanley Private Markets Solutions (“Private Markets Solutions” or the “Team”), the multi-manager private markets platform within Morgan Stanley Investment Management, announced today the final close of Private Equity Co-Investment Fund II (“PECO II”). PECO II was oversubscribed, closing on $1.25 billion in total commitments and exceeding its fundraising target of $750 million.
PECO II offers private equity exposure through co-investments in small- and mid-cap buyout/growth companies across North America and Europe. PECO II and its predecessor PECO I are the continuation of Morgan Stanley’s 23-year track record in co-investments, which includes nearly $4 billion of commitments since the Team’s inception at Morgan Stanley in 1999.
Neha Champaneria Markle, the Head of Private Markets Solutions, said: “We see the success of the PECO II fundraise as a mark of our clients’ trust in us, and it motivates us every day to go the extra mile and to strive for outstanding performance for our limited partners.”
“The success of PECO II’s fundraise was driven by the market’s recognition of our team’s robust platform, disciplined underwriting, and collaborative relationships with third-party general partners,” added Michael Carroll, a portfolio manager of the PECO strategy.
Since inception, Morgan Stanley Private Markets Solutions has tracked over 3,500 general partners and has developed a reputation for strong sourcing and efficient execution, which has enabled a high degree of selectivity in its co-investment program. The combination of Morgan Stanley Private Markets Solutions’ expansive network of primary fund relationships, due diligence capabilities, execution experience, and differentiated investment focus has allowed the Team to produce consistently attractive co-investment returns.
About Morgan Stanley Private Markets Solutions
Founded in 1999, Morgan Stanley Private Markets Solutions (formerly AIP Private Markets) is a leading limited partner in private markets with a 23-year history of serving as a co-investment partner of choice to high-quality financial sponsors. The Team’s broad private markets investment platform encompasses globally diversified fund of funds programs, custom mandates, and specialized programs offering exposure to co-investments, secondaries, venture capital, and impact, among other strategies. As of September 30, 2022, the Team had committed over $25 billion to more than 1,100 private markets investments, positioning the group as one of the largest and most experienced private markets investors in the world.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has over 1,200 investment professionals around the world and $1.3 trillion in assets under management or supervision as of September 30, 2022. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, client 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 http://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 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.
