Morgan Stanley P.E. Arm Raises $1.14B Fund Of Funds

Apr 21 2009 | 12:17pm ET

Morgan Stanley Alternative Investment Partners has raised $1.14 billion in commitments for Morgan Stanley Private Markets Fund IV, a private equity fund of funds.

MSAIP Fund IV incorporates three main strategies: buyouts, primarily in North America and Western Europe, global venture capital and special situations. AIP's investment strategy emphasizes less efficient market segments and targets managers with differentiated skill sets in the U.S., Western Europe and emerging private-equity markets.

“We search broadly for opportunities that are highly differentiated relative to their peer set,” said Tom Dorr, chief investment officer.  “Overall, these opportunities must fit within a diversified portfolio framework while capitalizing on current market dislocations.  In today's environment, distressed - including secondary purchases - and asset-backed strategies are especially attractive.”

MSAIP, the fund of funds division of Morgan Stanley Investment Management, manages portfolios of hedge funds, private equity funds and real estate funds for some of the world's largest institutions and high net worth individuals. 

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