Morgan Stanley raises $398m so far for fifth Asia-focused PE fund

A pedestrian is reflected in the exterior of Morgan Stanley headquarters in New York, U.S., on Thursday, July 12, 2018. Photographer: Bess Adler/Bloomberg

Morgan Stanley’s Asia private equity unit – Morgan Stanley Private Equity Asia (MSPEA) – has so far secured $398.33 million in capital commitments for its fifth Asia PE fund, according to its latest filing with the US SEC.

North Haven Private Equity Asia V, which was launched in September 2018, attracted commitments from 588 investors as of the firm’s September 16, 2020 filing. Morgan Stanley did not specify the target amount for the said fund.

Morgan Stanley has previously been reported to be seeking up to $2 billion for the fifth Asia fund.

The fund last made an initial close in September 2019, with $366 million in total capital commitments. MSPEA’s previous four private equity funds include the $330-million Morgan Stanley Private Equity Asia I in 1999, the $525-million Asia Fund II in 2005, the $1.5-billion Asia Fund III in 2007, and the $1.7 billion Asia Fund IV.

In 2018, MSPEA also raised $440 million for its North Haven Thai Private Equity and related funds, exceeding an initial target of $300 million.

MSPEA, which is part of Morgan Stanley Investment Management (MSIM), invests primarily in highly structured minority investments and control buyouts in growth-oriented companies. It has offices in Hong Kong, Beijing, Shanghai, Seoul, Tokyo, Mumbai, and New York.

MSIM has more than 714 investment professionals around the world and $665 billion in assets under management as of June 30, 2020. It provides long-term investment performance, service, and investment management solutions to its client base.

Early this month, MSIM raised over $4 billion in assets for its new Global Change Strategy fund developed in partnership with Japan’s Mizuho Securities.

The fund seeks to maximise long-term capital appreciation by investing in a highly-concentrated portfolio of 20-40 names. Only high-quality companies with a strong Environmental, Social, and Governance (ESG) alignment will be part of the portfolio, the firm said.

Morgan Stanley is a global financial services firm providing investment banking, securities, wealth management, and investment management services.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.