According to the company press release, Morgan Stanley Alternative Investment Partners, an investment team within Morgan Stanley Investment Management, has closed the unit’s latest investment fund, the Riverview Strategic Opportunities Fund III with over $500 million in commitments. The fundraise saw robust interest from both institutional and high net worth investors with the raise being completed within a few weeks.
“We are pleased investors continue to see promise in our fund’s differentiated approach as hedge funds look to alleviate the constraints they face in the market and seek opportunities in the liquidity gap between traditional hedge fund and private equity investments,” said Mark van der Zwan, Chief Investment Officer and Head of AIP Hedge Funds Team. “Our experienced team is well positioned to deliver consistency in expertise and execution. We are confident that the Fund will benefit from access to AIP’s strong global network of hedge fund relationships, deep proprietary research and rigorous due diligence process.”
“Morgan Stanley is pleased to offer this attractive opportunity to our clients again, leveraging the team’s experience and sophisticated resources to help capture transient opportunities in the market and value for investors,” said Jacques Chappuis, Global Head of Distribution and Co-Head of the Solutions and Multi-Asset Group. “AIP is one of the first and most experienced buyers in the hedge fund secondaries market and has built some of the strongest relationships in the hedge fund industry as a result, allowing us to offer a well sourced and competitive investment product. We look forward to watching the market evolve as hedge funds continue to search for solutions in a changing environment.”