Morgan Stanley Alternative Investment Partners (AIP), an investment team within Morgan Stanley Investment Management, has closed the unit’s latest investment fund, the Riverview Strategic Opportunities Fund III (“SOF III” or the “Fund”) with over $500 million in commitments. The fundraise saw robust interest from both institutional and high net worth investors with the raise being completed within a few weeks. The Fund is an opportunistic hedge fund solution focused on hedge fund secondaries and co-investments.
“We are pleased investors continue to see promise in our fund’s differentiated approach as hedge funds look to alleviate the constraints they face in the market and seek opportunities in the liquidity gap between traditional hedge fund and private equity investments,” said Mark van der Zwan, Chief Investment Officer and Head of AIP Hedge Funds Team. “Our experienced team is well positioned to deliver consistency in expertise and execution. We are confident that the Fund will benefit from access to AIP’s strong global network of hedge fund relationships, deep proprietary research and rigorous due diligence process.”
The Fund is AIP’s third vintage of the Strategic Opportunities series. Consistent with SOF I and SOF II, SOF III aims to solve recent liquidity pressure on hedge funds by purchasing hedge fund secondaries and pursuing co-investment partnerships with managers on medium-term investments.
“Morgan Stanley is pleased to offer this attractive opportunity to our clients again, leveraging the team’s experience and sophisticated resources to help capture transient opportunities in the market and value for investors,” said Jacques Chappuis, Global Head of Distribution and Co-Head of the Solutions and Multi-Asset Group. “AIP is one of the first and most experienced buyers in the hedge fund secondaries market and has built some of the strongest relationships in the hedge fund industry as a result, allowing us to offer a well sourced and competitive investment product. We look forward to watching the market evolve as hedge funds continue to search for solutions in a changing environment.”
SOF III’s investors include institutions such as private and public pensions, corporations, foundations and family offices, as well as high net worth individuals, from a broad range of geographies.
About AIP’s Hedge Fund Solutions Business
AIP’s Hedge Fund Team specializes in assisting institutional and high net worth investors achieve their goals through the design and management of hedge fund-focused programs. The team has broad expertise making direct fund investments, secondary investments and co-investments across all hedge fund strategies. The business includes custom portfolios, diversified and opportunistic multi-manager strategies and advisory services. Established in 2000, AIP’s hedge fund solutions business has approximately $23 billion in assets under management and advisement as of March 31, 2018.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 645 investment professionals around the world and $474 billion in assets under management or supervision as of June 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.
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.
Mary Claire Delaney
CRC 2192028 08/2018