Morgan Stanley is looking to start a new private equity fund and is hoping to raise USD6 billion (€4.6bn) for the venture. It is thought that this is in response to Goldman Sachs raising their target for their sixth fund to USD15 billion.
Since the selling of their private equity business three years ago to its buyout subsidiary, Metalmark Capital, this is the most considerable fund Morgan Stanley have launched.
The steep rise in private equity investments is the driving force behind the launch. Income from the fund will be split as 40 percent is earmarked for European Investments, 40 percent for US Companies and Asia will receive the last 10 percent.