Morgan Stanley Investment Management has raised over USD1.4 billion for North Haven Tactical Value Fund LP and its related funds (collectively NHTV), significantly exceeding its original fundraising target.
The Fund seeks to invest in private, long-term and often illiquid opportunities that are identified primarily by leveraging the global Morgan Stanley network and come from a wide range of asset classes, sectors and geographies. Investors in the Fund, the first offering from the team, include some of the world’s largest and most sophisticated institutional investors as well as qualified individual investors.
“We are extremely pleased that investors have recognised the strength of our investment team and the potential of this innovative product,” says David N Miller (pictured), Head of Private Credit and Equity for Morgan Stanley Investment Management. “The Fund has a truly differentiated strategy that identifies investments not constrained by traditional asset class definitions.This flexible approach coupled with access to proprietary opportunities sourced through Morgan Stanley’s global network has enabled us to create what we believe is a unique offering with a strong value proposition.”
The Morgan Stanley Tactical Value Investing team will directly interface with the global Morgan Stanley platform to source proprietary transactions across Global Capital Markets, Investment Banking, Sales & Trading, Wealth Management and Investment Management in addition to the Team’s proprietary network. The team focuses on providing nimble, opportunistic capital and has the ability to tailor bespoke solutions for each investment.
“Given the scarcity of opportunistic capital, we see a clear opening in the market for a fund to fill the supply/demand gap,” says Thomas Cahill, Co-Head of Morgan Stanley Tactical Value Investing. “Our team's structuring expertise, complemented by Morgan Stanley's broad capabilities and transaction knowledge, enable us to address a company’s unique capital needs or idiosyncratic risks.”
Pedro Teixeira, Co-Head of Morgan Stanley Tactical Value Investing, adds: “We believe the Fund has distinct and tangible advantages throughout the investment lifecycle by having access to the best in class resources of the Morgan Stanley platform. With a broad investment mandate, we are able to pursue complex, unique opportunities and seek to build an uncorrelated portfolio of attractive investments.”
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