Morgan Stanley’s investment manager secured $1.3 billion in capital commitments for a growth equity fund that’s already invested in startups including Databricks, Anduril Industries Inc. and Ramp.
The asset manager’s North Haven Growth & Innovation fund was oversubscribed, with Morgan Stanley, its affiliates and employees committing 24% of the capital, according to a statement Wednesday.
Morgan Stanley has been deepening its relationships with early-stage companies. Its investment manager, which oversees about $2 trillion, helps pull in funding for the startups, while its wealth manager helps employees invest their riches. The company’s investment bank has also been jockeying for spots on the most lucrative initial public offerings.
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“Morgan Stanley’s relationships with growth companies can span their entire lifecycle, from early capital formation through private-market financing, strategic advisory, liquidity and ultimately the public markets,” David Miller, global head of private credit and equity at Morgan Stanley Investment Management, said in the statement.
The latest fund is focusing on high-growth private companies, with capital for both primary and secondary transactions.
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