Archivi giornalieri: maggio 23, 2010

Morgan Stanley Alternative Investment Partners Raises $585 Million for Global Secondary Opportunities Fund

Morgan Stanley Investment Management (MSIM) today announced that Morgan Stanley Alternative Investment Partners (AIP) raised $585 million in commitments for Morgan Stanley Global Secondary Opportunities Fund LP (GSOF), a fund dedicated to acquiring interests in private equity funds in the secondary market. The capital raised exceeded MSIM’s initial $500 million target.

“This successful fund raise demonstrates how MSIM leverages its competitive strengths and draws upon the full depth of resources at Morgan Stanley to deliver compelling investment solutions to our clients,” said Gregory Fleming, President of MSIM. “As an integrated platform participating in both the primary and secondary markets, AIP is well-positioned to employ its differentiated investment approach to take advantage of the expected growth in secondary opportunities.”

The objective of GSOF is to target off-market secondary opportunities across the private equity spectrum, with an emphasis on small- and mid-cap buyouts, distressed and special situations funds. GSOF is expected to be diversified by managers, strategies, regions, vintage years and portfolio companies. Investors include existing MSIM investors and new limited partners, including endowments, foundations, public and corporate pension plans, family offices, insurance companies, and sovereign wealth funds.

“We think the market for secondaries is poised for substantial growth in 2010, and we believe that our solutions-oriented approach to secondary investing will continue to be attractive to both sellers and the general partners of the funds we purchase,” said John Wolak, Head of Secondary Investing for AIP Private Equity Fund of Funds and Lead Portfolio Manager for GSOF. “MSIM has been an active buyer of secondary interests through AIP’s global core private equity fund of funds program, and through our dedicated fund, we will continue to focus on small- to mid-sized managers and the less efficient parts of the private equity universe.”

GSOF is the second fund dedicated to secondary private markets that MSIM has closed this year. In March, AIP’s Real Estate Fund of Funds team announced that it raised $370 million in commitments for Morgan Stanley AIP Phoenix Global Real Estate Secondaries 2009 LP (Phoenix), a fund dedicated to acquiring secondary interests in opportunistic and value-added private equity real estate funds.

AIP is the fund of funds division of Morgan Stanley Investment Management and has approximately $17 billion of assets under management as of March 31, 2010. AIP manages portfolios of hedge funds, private equity funds and real estate funds for some of the world’s largest institutions and high net worth individuals. AIP has offices in West Conshohocken, Pennsylvania; New York; San Francisco; Atlanta; London and Hong Kong.

MSIM, together with its investment advisory affiliates, has nearly 1,000 investment professionals around the world and approximately $262 billion in assets under management or supervision as of March 31, 20102. By leveraging its global ‘community of boutiques’ structure and the strength of Morgan Stanley, MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 42 countries.

For further information about Morgan Stanley, please visit www.morganstanley.com

Morgan Stanley India Equity Research Ranked #1 by Institutional Investor

Morgan Stanley (NYSE: MS) today announced it has been ranked as India’s top equity research house by the 2010 All-Asia Research Team in Institutional Investor magazine’s 17th annual rankings. The Firm also polled as the best research house for Asia economics.

“We are extremely proud of our India equity research and analysis team,” said Ridham Desai, Managing Director and Head of India Research for Morgan Stanley. “We were among the first to predict the strong growth enjoyed by local markets following the global financial crisis. Our ranking as India’s leading research house in this prestigious poll is recognition for our expertise, experience and dedication. We are very grateful to our clients for recognizing our efforts and contributions to their investment process.”

In Institutional Investor magazine’s investor poll, Morgan Stanley was also number one ranked for Australia/New Zealand, Consumer, as well as Healthcare and Pharmaceuticals.

In total ranked Institutional Investor positions for the entire Asia-Pacific region, the Firm ranked fourth, moving up from eighth position in 2009. In overall research, the Firm ranked third, up from eighth in 2009. Morgan Stanley’s Asia-¬Pacific research team of over 180 professionals covers over 770 companies across the Asia-Pacific region.

“Over the past year we’ve been bullish on Asia ex-Japan’s overall growth, and our team’s call, particularly for the top four economies in the region – India, China, South Korea and Indonesia – has worked well,” said Chetan Ahya, Asia and India Economist, Morgan Stanley. “We turned bullish on India in May 2009, when we argued that the general election’s outcome would ensure an improvement in the macro environment. Since then we have been upgrading growth estimates ahead of the Street, and India has been one of the best-¬performing markets.”

The All-Asia Research team Institutional Investor’s 17th annual ranking results are based on responses from more than 2,200 buy-side analysts and investment professionals at 775 institutions managing an estimated $1.5 trillion in non-Japanese Asian Equities.

For 2009, Morgan Stanley was named as the Best India Equity House by IFR Asia magazine and The Asset. For the Asia region, the Firm was also named Best Investment Bank and Best Equity House by FinanceAsia magazine, one of the region’s most respected financial and capital markets trade publications.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 42 countries.
For further information about Morgan Stanley, please visit www.morganstanley.com