Morgan Stanley Investment Management has launched the North Haven Private Assets Fund, an evergreen private equity vehicle aimed at high-net-worth investors seeking exposure beyond traditional public markets.

The strategy will target co-investments and secondaries in the lower middle market, offering a gateway into private equity for clients previously excluded from the asset class due to high entry barriers. While the firm has not disclosed a formal fundraising target, it anticipates raising several billion dollars over the medium term.

“We’ve had a front-row seat to the opportunity, appetite and demand for private equity in a format that is more user-friendly for individual investors,” said Neha Champaneria Markle, head of private equity solutions at Morgan Stanley. “There’s enough of an understanding about how private equity works, how these types of vehicles work, for us to be comfortable launching our strategy.”

The fund will initially be offered exclusively to Morgan Stanley clients, with plans for broader distribution in the future.

This launch reflects a growing industry trend. Both traditional and alternative asset managers are increasingly tailoring products for affluent retail investors, aiming to unlock new capital pools and diversify their investor base.

Source: Bloomberg