Morgan Stanley Alternative Investment Partners has collected approximately $430 million for its fifth fund of funds, according to documents filed with the US Securities and Exchange Commission.
Morgan Stanley Private Markets Fund V is reportedly targeting $1.25 billion, slightly more than its fourth fund of funds that closed on $1.14 billion in 2009. Fund IV aims to invest in 30 to 35 primary funds, 10 to 20 co-investments and five to 10 secondaries. LPs in the bank’s previous fund of funds include the Iceland State Employees’ Pension Fund and the Northumberland County Council Pension Fund.
Morgan Stanley declined to comment.
In January, Morgan Stanley Credit Partners raised $956 million for its first dedicated mezzanine vehicle. The fund targets buyouts, refinancings and recapitalisations in North America and Europe, and had already invested $160 million in five portfolio companies as of 12 January.
Morgan Stanley Alternative Investment Partners, which houses the bank's funds of funds, is a division of Morgan Stanley Investment Management. Alternative Investment Partners manages portfolios of hedge funds, private equity funds and real estate funds for institutions and high net worth individuals.