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PSERS commits up to $100m to Morgan Stanley Private Equity Asia IV

29 Jan 2013

news_asia_lrgMorgan Stanley’s latest Asia-focused fund has received a commitment of up to $100m from the Pennsylvania Public School Employees’ Retirement System, ahead of an imminent first close.

The move is the first time the LP has backed one of Morgan Stanley’s Asia vehicles, although it has previously committed capital to the firm’s other private equity funds.

Morgan Stanley is eyeing a first close of up to $750m for its latest Asia-focused vehicle before the end of the month, AltAssets reported last week.

A close of that magnitude would put Morgan Stanley Private Equity Asia Fund IV halfway to its $1.5bn target, equaling the total it collected for its third Asia vehicle launched in 2007.

The firm expects to wrap up the vehicle by the end of the second quarter, according to a source familiar with the matter.

A spokesman for Morgan Stanley declined to comment.

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