Morgan Stanley’s new Asia private equity fund

Morgan Stanley Private Equity Asia has raised $1.5 billion for its third fund to invest in companies in this region.

Around 80% of the investors in the new fund are institutions, including a number of sovereign wealth funds. The largest representation is from endowments and foundations in the United States, which tend to be more active in the alternative space. Other investors include banks, insurance companies, corporate pension plans, select high net worth clients and Morgan Stanley and its employees. The book was closed in around six months.

Chin Chou, chief executive officer of Morgan Stanley Private Equity Asia, says the fund aims to find...