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Morgan Stanley's secondaries fund exceeds $500m target

  • Gail Mwamba
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Morgan Stanley's Global Secondary Opportunities Fund, has raised $585m, exceeding its $500m initial target.

The fund will acquire interests in private equity funds in the secondary market, focusing on distressed and special situations funds in the small and mid-cap buyout spectrum. Investors in the fund include endowments, foundations, pension funds, family offices, insurance companies, and sovereign wealth funds.
 
The fund is managed by the bank's Alternative Investment Partners, the fund-of-funds division of Morgan Stanley Investment Management - with about $17bn in assets under management.

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