Morgan Stanley’s alternative investment group raised $516m

Morgan Stanley HQ

Morgan Stanley’s alternative investment group raised $516 million to invest alongside hedge funds in longer-term wagers, as clients move away from more traditional bets in public markets.

Bloomberg News reports that in addition to co-investing, the pool of money will also buy investments in hedge funds from other limited partners - primarily so-called side pockets of illiquid securities created before 2008 that tend to sell at a large discount to the value of their holdings, said Mark van der Zwan, chief investment officer and head of the hedge fund team for the unit.

“We are looking to exploit themes with investment time horizons between hedge funds and private equity," said van der Zwan in a telephone interview. The bets generally have a lifespan of two to five years, he said.

Hit the link below to access the complete Bloomberg News article:

Morgan Stanley Raises $516 Million for Hedge Fund Co-Investments

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