Morgan Stanley Investment Management has completed the fundraising for its first North Haven Growth & Innovation Fund, securing $1.3 billion in capital for investments in high-growth private companies.
The new fund expands Morgan Stanley Investment Management’s presence in growth equity, targeting businesses that have demonstrated strong execution and operate in markets with substantial long-term growth opportunities.
Morgan Stanley and Affiliates Commit 24% of Capital
Morgan Stanley, along with its affiliates and employees, collectively committed 24% of the fund’s total capital.
The commitment represents a substantial portion of the vehicle’s capital coming from within the broader Morgan Stanley organisation, alongside external investors participating in the fund.
Fund Targets High-Growth Private Companies
The North Haven Growth & Innovation Fund is part of Morgan Stanley Investment Management’s $280 billion Alternatives platform.
The strategy is focused on private companies with established records of execution, rapid growth and strong leadership.
It also targets businesses operating in large addressable markets where continued technological innovation can support further expansion.
Rather than limiting its investments to conventional growth financing, the fund has the flexibility to deploy capital through both primary and secondary transactions.
Flexible Capital Strategy Includes Liquidity Solutions
The fund can participate in company-led liquidity transactions, giving it the ability to provide capital through arrangements that allow existing shareholders to achieve liquidity while supporting the continued development of private businesses.
This flexible investment approach allows the fund to pursue opportunities across different stages and transaction structures within the private-company market.
Databricks, Anduril and Ramp Among Early Investments
The fund has already invested in several prominent private technology companies, including Databricks, Anduril and Ramp.
The investments reflect the fund’s focus on businesses combining high growth with large potential markets and technology-driven expansion.
Morgan Stanley Investment Management Oversees $2 Trillion
Morgan Stanley Investment Management and its investment advisory affiliates have more than 1,300 investment professionals operating around the world.
As of June 30, 2026, the group had approximately $2 trillion in assets under management or supervision, highlighting the scale of the wider investment management operation behind the new growth equity strategy.
