Morgan Stanley Investment Management today announced it has closed North Haven Tactical Value II Fund LP (“NHTV II” or the “Fund”) and affiliated funds at approximately $2 billion of committed capital, representing a nearly 50 percent increase over the predecessor fund NHTV I. The Fund seeks to provide credit, hybrid and non-control equity investments in high-quality companies across sectors and geographies. Investors in the Fund include some of the world’s largest and most sophisticated institutional investors as well as qualified individual investors.
Commenting on the close, Thomas Cahill and Pedro Teixeira, Co-Heads of Morgan Stanley Tactical Value, said: “We are pleased to close our second fund to provide investors exposure to a highly diversified portfolio of uncorrelated investments unconstrained by the narrower mandates of traditional private equity or private credit strategies. Our team’s deep in-house structuring capabilities and breadth of domain expertise across asset classes, combined with access to the Morgan Stanley platform, position the Fund to provide nimble, opportunistic capital, often in situations where broader capital markets solutions are unavailable.”
Leveraging Morgan Stanley’s expansive client relationships and access to management teams, the investment team originates bespoke transactions sourced from the Firm’s Global Capital Markets, Investment Banking, Sales & Trading, Wealth Management and Investment Management groups. In addition, the investment team relies on a broad external sourcing network, built over the last seven years. Combining the two sourcing channels, the team aims to build a highly selective, low correlation portfolio, benefiting from downside protection and upside participation.
“We are pleased to have raised $2 billion of committed capital with the support of our investors,” said David N. Miller, Global Head of Private Credit and Equity for Morgan Stanley Investment Management. “The Fund’s differentiated strategy paired with our team’s expertise and Morgan Stanley’s global network offers a unique opportunity for investors to build a portfolio with a strong value proposition.”
About Morgan Stanley Tactical Value
Morgan Stanley Tactical Value is the flexible, non-control private investment platform within Morgan Stanley Investment Management (MSIM). With a broad mandate to invest across asset classes, sectors and geographies, Morgan Stanley Tactical Value is able to tailor bespoke solutions to meet unique strategic and financial objectives. The team's expertise, including deep structuring capabilities, is complemented by Morgan Stanley's extensive network and global capabilities to drive differentiated capital solutions for companies, founders, sponsors, and stakeholders. For more information, please visit www.morganstanley.com/im/tacticalvalue.
Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,400 investment professionals around the world and $1.6 trillion in assets under management or supervision as of September 30, 2024. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.
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