Morgan Stanley alternative investment partners wins $1.3 billion

Morgan Stanley Alternative Investment Partners (AIP) has won $72 million for its Morgan Stanley Private Markets Fund V (PMF V) and $580 million for related separate accounts. The strategy of AIP is to create a globally diversified portfolio of private equity assets by combining primary funds, co-investments and secondaries.

Jacques Chappuis, head of AIP, said: “We are very gratified by the success of our business development efforts in this challenging fund-raising environment. We believe that our deep experience and our unique investment approach – as well as our differentiated results – contributed to the strong demand.” Chappuis said that the objective of PMF V and the related separate accounts is to provide investors with superior risk-adjusted returns, while providing exposure to three main private equity strategies globally – buyouts, venture capital and special situations.

Commenting on AIP’s approach, the head of the AIP private equity fund of funds team and CIO, Tom Dorr, said: “Fundamentally, we are value oriented and highly opportunistic. We cast a wide net to find new opportunities where managers have a demonstrable competitive advantage relative to their peer set.”