Morgan Stanley (MWD) today announced that its Asia Pacific private equity group has closed on aggregate commitments of US$515 million to a new fund, Morgan Stanley Private Equity Asia, L.P., the first ever Asia-dedicated private equity vehicle sponsored by the Firm. Investors include leading global institutions, including Morgan Stanley, as well as a select group of high net-worth individuals.
Morgan Stanley Private Equity Asia, a separate department within the Firm’s institutional securities business, will manage the Fund and has been an active private equity investor in the region since 1993. Consistent with the private equity group’s track record and investment strategy, the Fund will concentrate on investing in leading businesses located across the region with strong value propositions. The Fund will have a traditional five-year investment period, followed by a five-year harvest period.
Mr. Chin Chou, Managing Director and Co-Head of Morgan Stanley Private Equity Asia, said, “We have been very pleased with the positive reception we received from some of the most sophisticated institutional investors in the private equity arena. Consistent with our overall investment strategy, we have sized the Fund for investment opportunities in our target markets that currently offer excellent potential returns.”
“The new Asia-dedicated Fund will continue our disciplined and value oriented investment strategy,” added Mr. David Liu, Managing Director and Co-Head of Morgan Stanley Private Equity Asia. “We will seek compelling investment opportunities in the region, similar to our past investments such as Ping An Insurance, Mengniu Dairy, Nanfu Battery, eAccess, Landmark ITMC and HTL International.”
Alasdair Morrison, Chairman and CEO of Morgan Stanley Asia, said, “The Fund broadens our resources and reinforces our commitment to the region. Building on our investment banking, sales and trading, private wealth and asset management franchises, as well as our real estate investing business, it will allow Morgan Stanley, our clients and investors in the Fund to capitalize on the growth opportunities in Asia through direct investments.”
Morgan Stanley Private Equity Asia is one of the leading private equity investors in Asia Pacific, having invested in the region for over 12 years and having developed one of the leading investment track-records over an extended period of time. The group has made a number of investments in businesses throughout Asia, including eAccess Ltd (Japan), Hengan International (China), HTL International (Singapore), Jinbang Steel (Korea), Landmark ITMC (Korea), Mengniu Dairy (China), Nanfu Battery (China), Paradise Retail (China) and Ping An Insurance (China).
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