Morgan Stanley Investment Management (MSIM) announced today that Morgan Stanley Credit Partners L.P. ("MS Credit" or the "Fund"), its first dedicated corporate mezzanine fund, has held its final closing with $956 million in capital commitments.
"This successful fund raise demonstrates the strength of the Morgan Stanley Credit Partners' investment team, and the confidence investors have in Morgan Stanley," said Gregory Fleming, President of MSIM and Global Research. "The demand for alternative investments, combined with the team's leveraged finance expertise and ability to leverage Morgan Stanley's global resources and relationships, contributed to the strong response from investors."
MS Credit invests primarily in fixed income securities issued by middle market companies in the context of leveraged buyouts, debt refinancings, acquisitions and recapitalizations across a broad range of industry sectors, with a geographic focus in North America and Western Europe. To date, the Fund has invested more than $160 million in five portfolio companies.
"The market for mezzanine debt investing is benefiting from favorable secular trends resulting from an underlying imbalance between the demand for and the supply of capital, particularly for middle market companies," said Hank D'Alessandro, Managing Director and Head of Morgan Stanley Credit Partners. "We already have a robust investment pipeline in place, and we believe the Fund is well-positioned to continue to benefit from these dynamics."
About Morgan Stanley Credit Partners
Morgan Stanley Credit Partners was established in 2009 as a core strategy within Morgan Stanley Investment Management's Merchant Banking business, and seeks to invest in middle and upper-middle market corporations in the context of leveraged buyouts, debt refinancings, recapitalizations and acquisitions. Morgan Stanley Credit Partners' experienced team of investment professionals brings significant expertise in origination and structuring, credit analysis, and principal investing in the leveraged finance markets. Based in New York, the team focuses on deploying capital in North America and Western Europe. For further information about Morgan Stanley Credit Partners, please visit www.morganstanley.com/creditpartners.
Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 750 investment professionals around the world and approximately $273 billion in assets under management or supervision as of September 30, 2010. MSIM 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.
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 42 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
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