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Morgan Stanley Investment Management Raises $785MM for North Haven Senior Loan Fund

May 20, 2019, 09:00 AM
Filed Under: Industry News
Related: Morgan Stanley

Morgan Stanley Investment Management announced it has raised $785 million for the North Haven Senior Loan Fund L.P. and its related vehicles (collectively “NH SLF”) exceeding its original fundraising target. When combined with target leverage, NH SLF has approximately $1.1 billion of capital available for investment. NH SLF seeks to invest in privately negotiated senior secured loans issued by lower middle market companies in North America.

“NH SLF is an important expansion of our Private Credit offering and we are pleased with the strong support from investors,” said David N. Miller, Head of Global Private Credit and Equity for Morgan Stanley Investment Management. “Building on our long and successful track record in private credit, NH SLF is uniquely positioned to potentially generate attractive fixed income returns in a low yield environment.”

“We expect our portfolio companies will benefit from Morgan Stanley’s global platform, intellectual content and value added lending,” added Henry (“Hank”) D’Alessandro, Chief Investment Officer for NH SLF. “NH SLF is expected to benefit from the deal flow, resources, and relationships and due diligence advantages embedded in the Morgan Stanley Private Credit platform.”

Investors in NH SLF include sophisticated institutional investors in Europe, Asia and the U.S. as well as qualified individual investors.

“NH SLF is expected to provide investors with a vehicle to access the relatively attractive risk-adjusted returns offered in the lower middle market direct lending niche, while offering borrowers the potential to access the network and scale benefits inherent in the Morgan Stanley platform,” said Tom Bergen, Portfolio Manager of NH SLF.

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