Morgan Stanley Investment Management has raised more than $125 million (€111 million) in final commitments for its first global impact fund.
The PMF Integro I fund, as it is known, will invest in private equity funds that have a positive environmental or social impact.
Launched in partnership with the Morgan Stanley Institute for Sustainable Investing, the fund will be managed by AIP Private Markets, Morgan Stanley’s private markets solutions arm.
“Sustainable investing is an incredibly important part of our firm’s DNA, and the launch of Integro underscores our commitment to promote sustainable finance solutions while serving the needs of our clients,” said James Gorman, Morgan Stanley’s chairman and CEO.
“From education and healthcare in South Asia, to financial inclusion in South America, the fund epitomizes our belief as a firm that there are opportunities for investors of all types to pursue both positive financial return and sustainable impact.”
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