Morgan Stanley Alternative Investment Partners (AIP) has held a final close of Private Markets Fund VI with $1 billion in capital commitments. This exceeded the fund’s $750 million target.
The new fund’s strategy is to combine investments in primary funds, co-investments and secondaries in one globally diversified portfolio of private equity investments including buyouts, venture, growth capital, and special situations.
“We are focused wholly on generating attractive returns for our investors” said Neil Harper, CIO, AIP Private Markets Team. “We are deeply resourced to search globally for the best opportunities across the private markets. We are looking for opportunities where managers have a clear and sustainable source of competitive advantage, and we seek to back such managers on a primary basis in addition to co-investing directly alongside them, and purchasing secondary interests in their funds.”
Morgan Stanley Alternative Investment Partners is part of Morgan Stanley Investment Management. As of June 30, 2015, AIP managed total assets of $38.4 billion, including $10.7 billion in assets in private equity primary and secondary funds (www.morganstanleyaip.com).
“We are pleased with the success of this fund raise, particularly because we attracted several new limited partners to our program,” said John Wolak, Head of AIP Private Markets. “We believe that our experienced and talented team, strong investment results and deep commitment to our clients helped to attract capital to the fund.”
© 2015 PEPD • Private Equity’s Leading News Magazine • 10-16-15
