Morgan Stanley Raises New Asia-Dedicated Private Equity Fund
Morgan Stanley (NYSE:MS) today announced that its Asia private equity group, Morgan Stanley Private Equity Asia (MSPE Asia), has raised aggregate commitments of approximately US$1.5 billion for Morgan Stanley Private Equity Asia III, L.P. (the Asia Fund), the Firm’s third investment vehicle targeting private equity investments in Asia. MSPE Asia, which is part of the Firm’s global private equity group within the Merchant Banking Division, will manage the Fund.
“The new fund will allow clients and investors, as well as the Firm, to capitalize on growth opportunities in Asia through direct investments,” said Hans Schuettler, Chief Executive Officer, Morgan Stanley Asia. “In addition, it reflects our commitment to principal investing in the region, not only in private equity, but also in real estate and other opportunities across the capital structure.”
The investor group is comprised of leading global institutions and high net-worth individuals, as well as Morgan Stanley and its employees.
The Asia Fund will invest in leading businesses located across the region with strong value propositions and has already begun to review investment opportunities. It will have a traditional five-year investment period followed by a five-year harvest period.
“Morgan Stanley has been an active and successful private equity investor in the region since 1993,” said Chin Chou, Chief Executive Officer of MSPE Asia. “We will continue our valueoriented investment strategy, focused not only on opportunities in China, South Korea, Singapore and Taiwan, where we have established track records, but also on other important markets such as Japan, India and Australia.”
Mr. Scott Hahn, Chief Investment Officer of MSPE Asia, added, “We are very pleased with the positive reception to our third and largest fund directed at Asia and believe that market conditions present advantages as the Asia Fund begins to invest capital.”
Stephen Trevor, co-head of both Morgan Stanley’s global private equity business and its Merchant Banking Division, said, “Asia continues to be a primary focus area for the Firm’s merchant banking activities. Morgan Stanley’s franchise in the region has allowed us to access the highest quality, differentiated investment opportunities for our investor clients, which have consistently led to strong investment returns.”
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