Morgan Stanley Investment Management Raises over $275 Million for North Haven Expansion Credit
October 11 2017 - 9:05AM
Business Wire
Morgan Stanley Expansion Capital, the growth-focused private
investment platform within Morgan Stanley Investment Management,
today announced that it has closed on over $275 million of capital
commitments for North Haven Expansion Credit LP and its related
funds (collectively, “Expansion Credit” or the “Fund”), exceeding
its fundraising target.1 Expansion Credit intends to capitalize on
Morgan Stanley Expansion Capital’s (“Expansion Capital”)
long-standing history of private growth investing in late-stage,
private companies across a broad range of industries, including
technology, healthcare, consumer, ecommerce, digital media and
business services.
“We are pleased that investors have placed their trust in us and
recognize the potential of our Expansion Credit offering, given our
strong sourcing advantage and focus on companies with meaningful
enterprise value,” said David N. Miller, Head of Private Credit and
Equity for Morgan Stanley Investment Management. “The team brings
outsized resources to the growth credit market by combining
Expansion Capital’s expertise and network with Morgan Stanley’s
global franchise.”
The Fund’s investment strategy focuses on companies which are
late-stage and have proven business models, momentum and strong
management. The Fund leverages established channels of deal
origination and utilizes market sector and investment insight from
senior investment professionals within the Morgan Stanley Expansion
Capital platform.
“We believe that our investment strategy is differentiated when
compared to traditional growth debt providers,” said Pete Chung,
Head of the Morgan Stanley Expansion Capital Platform. “The Fund
intends to extend Expansion Capital’s legacy of investment success
and will seek to generate attractive risk-adjusted returns for its
investors through a combination of current income and long-term
capital appreciation.”
Bill Reiland, Chief Investment Officer of Expansion Credit,
said, “We believe that our investment team brings a unique blend of
growth debt investing, growth equity investing and Morgan Stanley
experience to the Fund’s strategy, allowing the Fund to properly
value growth businesses and appropriately structure investments to
maximize returns while limiting downside risk.”
About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is the growth-focused private
investment platform within Morgan Stanley Investment Management.
Morgan Stanley Expansion Capital targets growth equity and credit
investments within technology, healthcare, consumer, digital media
and other high growth sectors. For over three decades, Morgan
Stanley Expansion Capital has successfully pursued growth
investment opportunities and has completed investments in over 190
companies leveraging the global brand and network of Morgan
Stanley. For further information about Morgan Stanley Expansion
Capital, please visit www.morganstanley.com/im.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its
investment advisory affiliates, has more than 581 investment
professionals around the world and $435 billion in assets under
management or supervision as of June 30, 2017. Morgan Stanley
Investment Management 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. For further information about Morgan Stanley Investment
Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE:MS) is a leading global financial services
firm providing investment banking, securities, wealth management
and investment management services. With offices in more than 42
countries, the Firm's employees serve clients worldwide including
corporations, governments, institutions and individuals. For more
information about Morgan Stanley, please visit
www.morganstanley.com.
1 Total is comprised of $252 million in commitments to the Main
Fund and $25 million in the Opportunity Fund for 2017.
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version on businesswire.com: http://www.businesswire.com/news/home/20171011005199/en/
For Morgan Stanley Investment ManagementMedia Relations:Lauren
Bellmare, 212-761-5303
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