Morgan Stanley credit fund launches with $1.6bn

Morgan Stanley Investment Management raised $1.6 billion for North Haven Credit Partners III (NHCP III), exceeding its original fundraising target by 29%.

The fund will focus primarily on junior capital investments in private North American businesses including second lien debt, mezzanine debt, preferred equity and special situations. The launch expands Morgan Stanley’s private credit to over $10 billion in investable assets including anticipated leverage, said David Miller, head of global private credit and equity for Morgan Stanley Investment Management.

“Our ability to structure and invest across the capital structure is a key differentiator . . .

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