Private Credit Strategy
Private Credit Strategy

Private Credit Strategy


The Private Credit Strategy, managed by Morgan Stanley Credit Partners, is an investment platform for mezzanine debt and related instruments issued by middle-market companies in North America and Western Europe. Through a rigorous credit-centric and disciplined investment process, Credit Partners seeks to create value as a long-term partner for financial sponsors and companies throughout an investment’s life cycle.

Investment Approach

Distinct Investment Approach

We invest in middle market companies typically with EBITDA of $15 million or more which enjoy leading market positions and generate strong free cash flow and returns on invested capital. We employ a rigorous credit-centric process and a long term partnership approach to our relationships with management teams and financial sponsors. Our investments typically range from $15-65 million, with the ability to collaborate with the other investors for larger transactions.

Experienced Investment Team

Our Investment Team, comprising eleven dedicated professionals, has extensive experience in credit analysis, principal investing and deal origination and structuring.

Strong Deal Sourcing and Execution Capabilities

We bring an extensive network of relationships from the private equity, commercial banking, investment banking and corporate arenas. The team leverages this global network to augment deal flow. Our network also provides significant due diligence advantages in analyzing potential investments.

Value-Added Long-Term Partner

Once investments are closed and funded, we are able to provide portfolio companies access to the network and resources of a global financial services firm through the term of the investment and beyond.

Benefits to Sponsors/Borrowers

Pre-Deal/Ongoing Coverage

Regular updates on relevant M&A processes

Periodic content

Capital markets updates

Failed / pulled deals

Firm content

Relevant research

Access to industry conferences

Deal Evaluation and Diligence

Speed, certainty, and transparency

We work independently and in parallel with sponsors to provide greater confidence

We try to be constructive even when we decline an opportunity

Portfolio Company

Patient, long-term capital

We view ourselves as true partners

Constructive view on credit agreement changes needed to grow businesses or react to a changing environment

Ability to make follow-on investments

Portfolio Exits

We ensure that relevant investment bankers are made aware of our portfolio companies

All value creation solutions are brought to your attention

We are in constant dialogue with sponsors and seek to identify potential buyers

Exclusive Benefits of Working with Morgan Stanley

Complete access to the Morgan Stanley network

Investment Banking


Management teams of Merchant Banking portfolio companies

Merchant Banking operating partners

Global network

Opportunity to leverage Morgan Stanley cost synergies

Potential business opportunities from Morgan Stanley and portfolio companies

Proprietary Merchant Banking executive database

Risk management experts

Global network

Portfolio Managers
Head of Credit Partners
26 years industry experience
Managing Director
21 years industry experience
Managing Director
17 years industry experience
Managing Director
25 years industry experience
Executive Director
30 years industry experience
Executive Director
14 years industry experience
Executive Director
17 years industry experience
Executive Director
13 years industry experience
Executive Director
12 years industry experience
Vice President
9 years industry experience
Executive Director
13 years industry experience
Vice President
10 years industry experience
Jiseop Bae
Investment Professional
Griffin Coakley
Investment Professional
Jamie Hanfling
Investment Professional
James Morphis
Vice President
7 years industry experience
Aleksander Nikolic
Investment Professional

As of 09/30/2017. Team information may change from time to time.

Alternative investments are speculative and include a high degree of risk. Investors could lose all or a substantial amount of their investment. Alternative investments are suitable only for long-term investors willing to forego liquidity and put capital at risk for an indefinite period of time. Alternative investments are typically highly illiquid – there is no secondary market for private funds, and there may be restrictions on redemptions or assigning or otherwise transferring investments into private funds. Alternative investment funds often engage in leverage and other speculative practices that may increase volatility and risk of loss. Alternative investments typically have higher fees and expenses than other investment vehicles, and such fees and expenses will lower returns achieved by investors.

This is prepared for sophisticated investors who are capable of understanding the risks associated with the investments described herein and may not be appropriate for you.  The information presented represents how the portfolio management team generally implements its investment process under normal market conditions.

All information provided has been prepared solely for information purposes and does not constitute an offer or a recommendation to buy or sell any particular security or to adopt any specific investment strategy. The information herein has not been based on a consideration of any individual investor circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal or regulatory advice. To that end, investors should seek independent legal and financial advice, including advice as to tax consequences, before making any investment decision.  There is no guarantee that any investment strategy will work under all market conditions, and each investor should evaluate their ability to invest for the long-term, especially during periods of downturn in the market. 

Any views and opinions provided are those of the portfolio management team and are subject to change at any time due to market or economic conditions and may not necessarily come to pass. Furthermore, the views will not be updated or otherwise revised to reflect information that subsequently becomes available or circumstances existing, or changes occurring. The views expressed do not reflect the opinions of all portfolio managers at Morgan Stanley Investment Management or the views of the firm as a whole, and may not be reflected in all the strategies and products that the Firm offers.

Diversification does not protect you against a loss in a particular market; however it allows you to spread that risk across various asset classes.  Past performance is no guarantee of future results.

Real estate values are affected by many factors including interest rates and property tax rates, zoning laws, changes in supply and demand, and in the local, regional and national economies.

In the ordinary course of its business, Morgan Stanley engages in a broad spectrum of activities including, among others, financial advisory services, investment banking, asset management activities and sponsoring and managing private investment funds. In engaging in these activities, the interest of Morgan Stanley may conflict with the interests of clients.

Funds of funds often have a higher fee structure than single manager funds as a result of the additional layer of fees. Alternative investment funds are often unregulated, are not subject to the same regulatory requirements as mutual funds, and are not required to provide periodic pricing or valuation information to investors. The investment strategies described in the preceding pages may not be suitable for your specific circumstances; accordingly, you should consult your own tax, legal or other advisors, at both the outset of any transaction and on an ongoing basis, to determine such suitability.

A separately managed account may not be suitable for all investors. Separate accounts managed according to the Strategy include a number of securities and will not necessarily track the performance of any index. Please consider the investment objectives, risks and fees of the Strategy carefully before investing. A minimum asset level is required. For important information about the investment manager, please refer to Form ADV Part 2.

No investment should be made without proper consideration of the risks and advice from your tax, accounting, legal or other advisors as you deem appropriate.

The information on this page is solely for informational purposes only. It is intended for the benefit of third party issuers and those seeking information about alternatives investment strategies. The information contained herein does not constitute and should not be construed as an offering of advisory services or an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction in which such offer or solicitation, purchase or sale would be unlawful under the securities, insurance or other laws of such jurisdiction.

All investing involves risks, including a loss of principal. Alternative investments are speculative and involve a high degree of risk. These investments are designed for investors who understand and are willing to accept these risks. Performance may be volatile, and an investor could lose all or a substantial portion of his or her investment.


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Not Insured By Any Federal Government Agency—Not A Deposit

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