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Morgan Stanley Alternative Investment Partners raises over USD1bn for Private Markets Fund VI

Morgan Stanley Alternative Investment Partners (AIP) has raised over USD1 billion in commitments for Private Markets Fund VI (PMF VI), which will combine primary funds, co-investments and secondaries in one portfolio of private equity investments.

The capital raise, which is now complete, exceeded AIP’s initial USD750 million target.
 
“Our PMF private equity fund series is now in its sixth round of investing, which speaks to the value our clients see in the consistent, disciplined investment approach of Morgan Stanley Alternative Investment Partners,” says Ed Moriarty, Head of Alternative Investment Partners, Merchant Banking & Real Estate Investing and Managed Futures. “Over the past fifteen years, we have carefully built a cohesive team of experienced investment professionals who now manage several longstanding programs across the spectrum of alternatives.”
 
“We are pleased with the success of this fund raise, particularly because we attracted several new limited partners to our program,” says John Wolak, Head of AIP Private Markets. “We believe that our experienced and talented team, strong investment results and deep commitment to our clients helped to attract capital to the fund.”
 
The objective of PMF VI is to provide investors with superior risk-adjusted returns and exposure to four private equity strategies: buyouts, venture, growth capital, and special situations. AIP’s investment strategy emphasises less efficient market segments and targets managers who can apply specialised skills to unlock value within the underlying portfolio assets.
 
“We are focused wholly on generating attractive returns for our investors,” says Neil Harper, CIO, AIP Private Markets Team. “We are deeply resourced to search globally for the best opportunities across the private markets. We are looking for opportunities where managers have a clear and sustainable source of competitive advantage, and we seek to back such managers on a primary basis in addition to co-investing directly alongside them, and purchasing secondary interests in their funds.”
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"We expect Callidus to follow the same path of success that Catalyst has experienced since its inception in 2002," says Glassman. "Callidus is fundamental to Catalyst's long-term strategy."

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