Morgan Stanley Alternative Investment Partners (AIP) has recently closed on over $225 million in final capital commitments for Private Markets Income Fund I (PMIF). The fund’s strategy is to invest in niche income-oriented private market strategies, across primary fund commitments, co-investments and secondaries, which provide near- to medium-term cash distributions. These investment strategies are frequently backed by real, financial or intellectual property assets. While PMIF represented AIP’s first standalone fund in this strategy, AIP has been an active participant in this investment space since 2000.
“Our clients rely on alternative investments to meet many different objectives, and this capital raise demonstrates how investors are now looking to this asset class to deliver a balance of yield and total return,” said John Wolak, Head of AIP Private Markets. “Morgan Stanley Investment Management maintains a broad and diverse alternative investing platform, including private equity, real assets and credit, where our clients can construct a precise set of investment solutions to leverage across their portfolios.”
PMIF will seek exposure to a broad range of asset classes including real assets, private credit, royalties and special situations. Consistent with AIP’s broader investment strategy, the PMIF investment program will emphasize less efficient market segments and targets managers who seek to apply specialized skills to unlock value within the underlying portfolio assets.
“Over the past fifteen years, we have carefully built a large, cohesive team of experienced investment professionals who now manage several longstanding programs across the spectrum of alternatives,” said Wolak. “We are focused wholly on generating attractive returns for our investors, and we believe that this fund will provide access to a compelling investment theme.”
Morgan Stanley Alternative Investment Partners (AIP), part of Morgan Stanley Investment Management, specializes in assisting institutional and high net worth investors achieve their goals through the design and management of alternative investment programs. AIP’s multi-disciplinary investment teams thoughtfully combine expertise in fund investing, secondaries and co-investing across hedge fund, private equity, real estate and multi-asset class strategies for the benefit of our clients. Solutions include diversified and opportunistic multi-manager strategies, multi-asset class portfolios, liquid alternatives and fiduciary management. As of December 31, 2015, AIP managed total assets of $37 billion, including $10.1 billion in assets in our private equity primary and secondary funds.
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