Insight

MSIM racks up $2.5bn for sophomore Ashbridge secondary fund

The amount represents nearly four times of that raised in the predecessor fund, Ashbridge Transformational Secondaries Fund I, which closed in 2018 at $675 million.

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  • Ashbridge Transformational Secondaries Fund II’s LPs include public and private pension funds, sovereign wealth funds, non-profits, fund of funds, family offices and high-net worth individuals
  • The fund targets high-performing assets in middle-market private equity funds
  • MSIM has $1.3 trillion in assets under management or supervision as of December 31, 2022

Morgan Stanley Investment Management has closed its second Ashbridge secondary fund at $2.5 billion.

The amount represents nearly four times of that raised in the predecessor fund, Ashbridge Transformational Secondaries Fund I, which closed in 2018 at $675 million.

Ashbridge Transformational Secondaries Fund II’s limited partners include public and private pension funds, sovereign wealth funds, non-profits, fund of funds, family offices and high-net worth individuals. Ashbridge II targets high-performing assets in middle-market private equity funds.

“The secondaries market has more than tripled in size since 2011, with GP-led secondaries representing approximately half of the market as sponsors seek solutions for longer hold periods, duration mismatch between investors, and additional capital to effectively implement value creation strategies,” said Nash Waterman, managing director and head of Morgan Stanley Private Equity Secondaries, in a statement. “With Ashbridge II, we are pleased to provide well-performing middle market private equity sponsors a tailored solution for their highest conviction assets that seeks to enhance alignment and optimize outcomes for all stakeholders.”

MSIM has $1.3 trillion in assets under management or supervision as of December 31, 2022.