Morgan Stanley Venture Partners spi

Crossmark Capital will be the new name for Morgan Stanley Venture Partners after the venture capital firm, formed in 1986, spun out of its investment bank parent. William Harding, a managing director at the venture arm of Morgan Stanley, will lead the newly independent venture capital firm. Morgan Stanley Venture Partners has managed more than £1.2bn in funds since its inception in 1986. It is understood that Crossmark will manage the remaining funds in a sub-advisor role. Last August, the private equity arm of Morgan Stanley, Morgan Stanley Capital Partners, also spun out of the investment bank to form Metalmark Capital.

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• UK / Ireland