Morgan Stanley Investment Management (MSIM) announced the debut of the North Haven Private Assets Fund (NHPAF). This evergreen investment fund, registered with the SEC, aims to provide select investors with institutional-quality private equity exposure. The fund focuses on co-investments and secondaries in the lower middle market. This marks MSIM's first venture into evergreen private equity, building on the company's recent launches of retail private credit and real assets strategies.
Neha Champaneria Markle, leading Morgan Stanley Private Equity Solutions, stated: "We are pleased to facilitate access to both secondaries and co-investments in privately held companies to a wider audience of potential investors through a user-friendly evergreen structure. We believe that the lower middle market offers a broad opportunity set characterized by lower entry valuations, greater potential for organic and M&A-driven growth, and more liquidity options compared to the large cap segment. We think this thematic emphasis, along with our demonstrated history of experience, and disciplined and careful manager diversification, will enable us to offer the potential for differentiated performance and downside risk protection."
The NHPAF is managed by Morgan Stanley Private Equity Solutions, a platform with a 25-year history and extensive network with general partners. Leveraging Morgan Stanley's resources, the fund is positioned to benefit from substantial deal flow and improved diligence capabilities.
David N. Miller, Global Head of Private Credit & Equity, commented: "Increased democratization of alternatives provides individuals access to what had been traditionally institutional asset classes. MSIM’s $240 billion alternatives business has largely been built organically over four decades. We are pleased to expand our suite of private wealth-oriented private markets funds to include private equity in a structure that provides diversified exposure across sectors, geographies, and underlying managers. The Private Equity Solutions team has a long history in private equity investing and, we believe, a compelling investment playbook that is further distinguished by the top-tier global resources of Morgan Stanley."
Morgan Stanley Private Equity Solutions, established in 1999, is recognized as a limited partner in private markets, managing globally diversified funds and specialized programs. Since its inception, the team has committed over $27 billion to more than 1,200 investments in private markets.
Morgan Stanley Investment Management, with over 1,400 investment professionals and $1.6 trillion in assets under management as of March 31, 2025, continues to offer a range of investment management solutions globally. Morgan Stanley, listed on the NYSE, is a major player in financial services with operations in 42 countries, serving various clients worldwide.
The investment adviser for NHPAF is Morgan Stanley AIP GP LP, while the fund's distributor is Morgan Stanley Distribution Inc.
The statements provided contain forward-looking elements and may not reflect actual future performance. Investors are urged to review available resources and disclosures thoroughly.