Morgan Stanley Alternative Investment Partners (AIP), an investment team within Morgan Stanley Investment Management, has closed the unit’s latest investment fund, the Riverview Strategic Opportunities Fund III (SOF III) with over USD500 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. The Fund is an opportunistic hedge fund solution focused on hedge fund secondaries and co-investments.
“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,” says Mark van der Zwan (pictured), 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.”
The Fund is AIP’s third vintage of the Strategic Opportunities series. Consistent with SOF I and SOF II, SOF III aims to solve recent liquidity pressure on hedge funds by purchasing hedge fund secondaries and pursuing co-investment partnerships with managers on medium-term investments.
“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,” says 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.”
SOF III’s investors include institutions such as private and public pensions, corporations, foundations and family offices, as well as high net worth individuals, from a broad range of geographies.
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