MSIP raises US$1.14bn fund

Morgan Stanley Investment Partners has raised US$1.14bn in commitments for its latest private equity fund-of-funds, Morgan Stanley Private Markets Fund IV, a 15% increase on its previous offering.

Fund IV focuses on buyouts in North America and Western Europe, global venture capital and global situations. It aims to obtain returns in primary funds, co-investments and direct secondaries. Private Markets Fund III raised US$1bn in commitments and had similar objectives to the latest fund.

Alternative Investment Partners is the fund-of-funds division of Morgan Stanley Investment Management. It manages portfolios of hedge funds, private equity funds and real estate funds. Morgan Stanley Investment Management has US$399bn in assets under management.