NEW YORK — December 12, 2018, 9:05 AM EST
Morgan Stanley Investment Management today announced it has raised over $1.4 billion for North Haven Tactical Value Fund LP and its related funds (collectively “NHTV” or the “Fund”), significantly exceeding its original fundraising target. The Fund seeks to invest in private, long-term and often illiquid opportunities that are identified primarily by leveraging the global Morgan Stanley network and come from a wide range of asset classes, sectors and geographies. Investors in the Fund, the first offering from the team, include some of the world’s largest and most sophisticated institutional investors as well as qualified individual investors.
“We are extremely pleased that investors have recognized the strength of our investment team and the potential of this innovative product,” said David N. Miller, Head of Private Credit and Equity for Morgan Stanley Investment Management. “The Fund has a truly differentiated strategy that identifies investments not constrained by traditional asset class definitions.This flexible approach coupled with access to proprietary opportunities sourced through Morgan Stanley’s global network has enabled us to create what we believe is a unique offering with a strong value proposition.”
The Morgan Stanley Tactical Value Investing team will directly interface with the global Morgan Stanley platform to source proprietary transactions across Global Capital Markets, Investment Banking, Sales & Trading, Wealth Management and Investment Management in addition to the Team’s proprietary network. The team focuses on providing nimble, opportunistic capital and has the ability to tailor bespoke solutions for each investment.
“Given the scarcity of opportunistic capital, we see a clear opening in the market for a fund to fill the supply/demand gap,” said Thomas Cahill, Co-Head of Morgan Stanley Tactical Value Investing. “Our team's structuring expertise, complemented by Morgan Stanley's broad capabilities and transaction knowledge, enable us to address a company’s unique capital needs or idiosyncratic risks.”
Pedro Teixeira, Co-Head of Morgan Stanley Tactical Value Investing, added: “We believe the Fund has distinct and tangible advantages throughout the investment lifecycle by having access to the best in class resources of the Morgan Stanley platform. With a broad investment mandate, we are able to pursue complex, unique opportunities and seek to build an uncorrelated portfolio of attractive investments.”
About Morgan Stanley Tactical Value Investing
Morgan Stanley Tactical Value Investing, a team within Morgan Stanley Investment Management, is focused on providing nimble, opportunistic capital with the flexibility to invest across asset classes, sectors and geographies in changing market environments.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 658 investment professionals around the world and $471 billion in assets under management or supervision as of September 30, 2018. 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 41 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.