Morgan Stanley Private Equity Asia (“MSPEA”), the Asia-focused private equity investment platform within Morgan Stanley Investment Management (MSIM), today announced that it has secured over US$440 million in capital commitments for North Haven Thai Private Equity LP and its related funds (collectively “Thai PE” or the “Fund”), versus an initial target of US$300 million. The Fund was launched in partnership with Bangkok Bank, a market-leading Thai financial institution, and will focus on making privately negotiated equity investments in companies with significant operations in Thailand.
“The success of our fundraising effort demonstrates that our clients recognize the significant potential we see in Thailand for this value-oriented investing strategy. The Thai PE fund will continue the disciplined approach that the Morgan Stanley Private Equity Asia team has executed on a pan-Asian basis for over two decades,” said David N. Miller, Head of Private Credit and Equity for Morgan Stanley Investment Management. “We look forward to working in partnership with Bangkok Bank to deliver compelling returns to our limited partners.”
Thai PE counts among its investor group some of the leading institutional investors globally. The Fund will target businesses that are beneficiaries of strong urbanization and per capita income growth trends and government initiatives, utilizing the platform’s operational expertise to restructure and refocus portfolio companies when appropriate. Environmental, social and governance (ESG) factors will also be important considerations in identifying investments for the Fund.
“One of ASEAN’s foremost economies, Thailand represents a significant opportunity for private equity investors,” said Chin Chou, Head of private equity investing in the Asia-Pacific region for MSIM. “We believe that MSPEA’s established track record in the Asia-Pacific region and our ability to leverage the combined resources of Morgan Stanley and Bangkok Bank will enable us to source companies that are poised to capitalize on favorable secular growth trends within the country.”
Mr Chou added, “Thailand has one of the most active M&A and financing markets in ASEAN, its per capita GDP has doubled in the past ten years and the supply of private equity capital remains relatively low. When seen through that macro lens and when combined with Morgan Stanley Private Equity Asia’s investing experience and ability to source opportunities on a proprietary basis, we believe Thailand is a highly attractive market.”
About Morgan Stanley Private Equity Asia
Morgan Stanley Private Equity Asia is one of the leading private equity investors in Asia-Pacific, having invested in the region for over 20 years. MSPEA invests primarily in highly structured minority investments and control buyouts in growth-oriented companies. The experienced investment team is led by senior professionals with extensive industry relationships, in-depth market knowledge and the ability to apply international investment principles within each local context.
MSPEA, a part of Morgan Stanley Investment Management, has offices in Hong Kong, Beijing, Shanghai, Seoul, Tokyo, Mumbai and New York, and leverages the brand and unparalleled global network of Morgan Stanley. For further information about Morgan Stanley Private Equity Asia, please visit www.morganstanley.com/im/.
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/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.
About Bangkok Bank
Bangkok Bank is one of Southeast Asia’s leading regional banks and Thailand’s market leader in corporate and SME banking. It has approximately 17 million customer accounts and around 1,200 branches nationwide and total assets of USD 102 billion as of March 31, 2018.
Internationally, Bangkok Bank has the largest overseas branch network of any Thai bank, with 32 overseas locations in 15 economies, mainly concentrated in Southeast Asia and China. The bank’s ongoing market leadership is due to its philosophy of developing long-term supportive partnerships with customers. The bank’s scope of operations and complementary synergies mean it offers an impressive breadth and depth of services to both local and international clients. For more information visit http://www.bangkokbank.com.