Morgan Stanley fund of funds arm pulls in $177m for new vehicle


morgan-stanley_sqMorgan Stanley has pulled in more than $170m for its latest fund of funds just over 18 months after closing a series of predecessor vehicles with $1.3bn.

AIP Private Markets Fund VI does not name a target in a US regulatory filing, which often understate the amount soft-circled by private equity fundraisers.

Morgan Stanley gathered about $720m for its fifth AIP fund in April 2012 and another $580m in related separate accounts, beating its initial $1.25bn target.

The firm said it planned to invest across primary funds, co-investments and secondaries with the cash, targeting in less efficient market segments and managers with differentiated skill sets in the US, Western Europe and emerging private equity markets.

Morgan Stanley’s fund of funds business previously closed a dedicated secondaries fund on $585m in May 2010.

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