Morgan Stanley IM Raises $1.2B for Two Funds

Morgan Stanley Investment Management closed on approximately $1.2 billion in total equity capital commitments for North Haven Expansion Equity IX and North Haven Expansion Credit II, which will target later-stage growth equity and credit investments in technology, healthcare, consumer, digital media, and other high-growth sectors.

The funds, managed by Morgan Stanley Expansion Capital, exceeded the target raise of $850 million by over 40%.

“…we believe these two new funds will allow Expansion Capital to continue our long history of providing bespoke financing solutions just as the market is seeing a pullback from both growth equity investors and venture lenders,” said Pete Chung, head of Expansion Capital.

Expansion Capital, which is part of MSIM’s $230 billion alternative investments business, has completed investments in over 200 companies over the past three decades.

Well-known companies in the portfolio include Realtor.com, Sprout Foods, an organic baby and toddler food company, email services provider Constant Contact, and online legal services provider RocketLawyer.

MSIM as a whole manages or supervises assets worth $1.4 trillion.