Morgan Stanley to Acquire EquityZen, Expanding Private Markets Platform
Morgan Stanley has agreed to acquire EquityZen, a leading private shares marketplace that has processed more than 49,000 transactions across 450 companies since its founding in 2013. The transaction is expected to close in 2026. Terms of the deal were not disclosed.
The acquisition will merge Morgan Stanley’s capitalization table management services with EquityZen’s trading platform, creating what the bank describes as a comprehensive, end-to-end solution for private companies and their shareholders. The integration aims to streamline equity ownership, secondary trading, and liquidity solutions across the private market lifecycle.
Founded in New York and employing roughly 50 people, EquityZen operates a marketplace that connects accredited investors with pre-IPO shares of private companies. The firm has more than 800,000 registered users and has built one of the most active platforms for trading private company equity.
“This deal helps us accelerate our already robust and growing private markets business,” said Michael Gaviser, Head of Private Markets at Morgan Stanley Wealth Management. “As investor demand for private market opportunities continues to expand, this acquisition enables us to serve clients and issuers with a more seamless and scalable experience.”
The announcement follows Morgan Stanley Wealth Management’s expanded partnership with Carta, a private capital software platform, underscoring the bank’s strategy to build an integrated infrastructure for private markets.
Advisors to the transaction included Morgan Stanley & Co. LLC as financial advisor and Morgan, Lewis & Bockius LLP as legal counsel to Morgan Stanley. Perella Weinberg Partners served as lead financial advisor to EquityZen, with Evercore also acting as financial advisor. Wilmer Cutler Pickering Hale and Dorr LLP served as legal counsel, and Sidley Austin LLP as regulatory counsel to EquityZen.
