Morgan Stanley Investment Management (MSIM) has raised over $125 million for its first global impact fund, the PMF Integro Fund, to invest in private equity funds that offer both compelling financial returns and a positive environmental or social impact.
The fund will be run in partnership with the Morgan Stanley Institute for Sustainable Investing and will be managed by AIP Private Markets, the private markets solutions team within MSIM. MSIM global head of sales, Paul Price, said: “The launch of Integro is demonstrative of the focus we have on providing investors with the ideas and solutions that help address their investment needs. By working closely with our clients, we have understood their increasing desire to invest in instruments which have an environmental and social impact, and we are proud to add Integro to our growing suite of products which help clients to tap into this increasingly important market.”
The fund will target private equity funds with high organic growth and will aim for diversification by geography, theme and impact outcomes. The AIP Private Markets team believes that this approach will maximise returns to investors and increase access to quality jobs, education and healthcare among underserved populations.