Morgan Stanley has announced an agreement to acquire EquityZen, a private shares platform based in New York. The move is expected to strengthen Morgan Stanley’s position in private markets by giving clients more ways to access and trade shares of private companies.
The acquisition will add EquityZen’s issuer-aligned model to Morgan Stanley’s suite of services for private companies and their shareholders. These services include cap table solutions, tender and liquidity programs, direct and co-investment opportunities, and secondary trading. With this integration, Morgan Stanley aims to deepen its relationships with private market companies across its business lines.
Jed Finn, Head of Morgan Stanley Wealth Management, said: “We are thrilled to welcome the entire EquityZen team to Morgan Stanley. This announcement comes at a critical time in the development of the private markets ecosystem. The combination of EquityZen with Morgan Stanley will uniquely address client needs as companies stay private longer, such as delivering liquidity solutions for their employees and early investors in a seamless yet controlled process of their own design. With EquityZen, we combine our cap table management solutions with a private shares marketplace to deliver end-to-end solutions to our private market company clients.”
The combined offering will allow issuers more control over when and how their shares are traded. According to the announcement, operational processes will be streamlined through direct integration between EquityZen’s technology and Morgan Stanley’s cap table solution.
Since 2013, EquityZen has connected retail investors with shares in private companies using scalable technology infrastructure. The company reports over 800,000 registered users and more than 49,000 transactions involving over 450 companies since its founding.
Michael Gaviser, Head of Private Markets at Morgan Stanley Wealth Management stated: “This deal helps us accelerate our already robust and growing private markets business. We are seeing rising interest in private markets exposure across our 20 million clients. EquityZen is the link that connects supply and demand through a seamless, technology-driven solution, broadening the toolset we provide Workplace clients, while expanding opportunities for Advisors and their clients.”
The transaction is subject to regulatory approvals and other customary closing conditions. It is expected to close in early 2026.
Atish Davda, CEO of EquityZen said: “We could not be more excited to join Morgan Stanley. This partnership isn’t about selling, it’s about scaling. Our entire mission has been to bring ‘private markets to the public,’ and by integrating into Morgan Stanley, we will reach more investors and shareholders than ever before. When our category-leading technology and welcoming marketplace is matched with Morgan Stanley’s comprehensive suite of products, services and offerings focused on the private markets, we can create a value proposition together for issuers, shareholders and investors that is unrivaled in our space.”
This announcement follows recent developments at Morgan Stanley Wealth Management including an expanded partnership with Carta—a software platform for equity management—whereby Morgan Stanley serves as exclusive U.S. equity management provider for late-stage firms going public.
Financial advice on the transaction was provided by multiple firms on both sides; legal counsel was also retained by each party.
Morgan Stanley operates globally across investment banking, securities trading, wealth management services—including brokerage—and investment advisory services for individuals as well as institutions.
EquityZen specializes in connecting accredited investors with pre-IPO investments via its online marketplace.
Investors considering alternative assets such as those available through platforms like EquityZen should be aware these investments can carry significant risks including illiquidity or loss of capital.