James P. Gorman Executive Chairman | Morgan Stanley
Morgan Stanley Investment Management (MSIM) has confirmed the final closing of its North Haven Private Equity Co-Investment Opportunities Fund III LP (PECO III), which met its hard cap with $2.3 billion in commitments. The PECO III fund provides opportunities for private equity exposure by making co-investments with buyout managers focused mainly on the lower middle market.
PECO III operates under Morgan Stanley Private Equity Solutions, a part of MSIM's $240 billion alternatives platform. This fund is a continuation of previous co-investment funds, PECO I and PECO II, and is part of a 25-year history of co-investments managed by Morgan Stanley since its inception in 1999.
Neha Champaneria Markle, Head of Morgan Stanley Private Equity Solutions, remarked, "We have a long history of serving as a partner of choice to sought-after buyout funds, and the success of the PECO program is a testament to the quality and discipline of our stable of lower middle market GP relationships. We look forward to continuing to broadly support GPs whether as a limited partner, as a co-underwriting partner, as a warehouse provider, or as a financing source."
David N. Miller, Global Head of Morgan Stanley Private Credit & Equity, added, "We are proud of the strength of our robust multi-manager private equity platform and our demonstrated ability to provide differentiated solutions to both private equity managers and investors on a global scale. The Private Equity Solutions team leverages their distinct investment culture, expansive network of primary fund relationships, diligence and execution experience, and access to Morgan Stanley’s broader platform resources to consistently deliver attractive performance for investors."
Morgan Stanley Private Equity Solutions, established in 1999, is a leading limited partner in private markets, with extensive investments across various strategies. The group has committed over $27 billion to more than 1,200 private markets investments since its inception.
Morgan Stanley Investment Management, together with its advisory affiliates, manages over $1.6 trillion in assets globally with a wide client base. Meanwhile, Morgan Stanley, operating globally in over 42 countries, provides a range of financial services, including investment banking and wealth management.