Morgan Stanley IM launches an ELTIF fund to capture global megatrends in private markets
18 NOV, 2025
By Joanna Piwko from RankiaPro Europe
Morgan Stanley IM has announced today the launch of the Morgan Stanley Private Markets ELTIF, a new fund managed by the Portfolio Solutions Group (PSG) and designed to provide investors with an efficient and accessible way to gain global exposure to the main opportunities in private markets.
The vehicle is aimed at investors seeking long-term capital appreciation through a diversified portfolio that combines private equity, private credit, real assets and, complementarily, certain selected public investments to reinforce the portfolio's construction and liquidity.
Thematic and global focus on the middle market
The new ELTIF adopts a thematic investment approach, with the aim of capturing opportunities associated with structural trends that are transforming global markets, including:
- Digitalization
- Sustainability
- De-globalization
- New lifestyles and consumption
The strategy focuses on the middle market segments in Europe, the United States and Asia, a universe that has historically offered attractive return premiums over large private capitalizations, as well as broader access to growth and value creation opportunities.
The investment process is based on a bottom-up analysis, combining rigorous fundamental evaluation with market analysis, which allows for the construction of a high conviction opportunity portfolio.
One of the fund's differential strengths is its ability to access co-investment opportunities thanks to Morgan Stanley's international network of relationships. The ELTIF will seek to partner with specialized external managers to reinforce its exposure to institutional quality private assets.
An active and semi-liquid vehicle under the ELTIF 2.0 framework
The fund will operate under the regulatory framework ELTIF 2.0, which allows to offer:
- Monthly subscriptions
- Quarterly redemptions
- Greater flexibility in asset composition
- Possibility of investing in public fixed income and other liquidity instruments to support tactical management
This makes the ELTIF an especially attractive tool for investors looking to access private markets while maintaining a reasonable degree of liquidity and a robust regulatory structure.
We continue to see strong demand from investors to access the enhanced risk-adjusted returns that private markets can offer. With this launch, we expand the options for investors by offering a unique combination of private market assets through a thematic investment approach, designed to capture the megatrends that can drive long-term profitability.
Federico Vettore, Head of Private Markets for Wealth in Europe at Morgan Stanley IM
The launch of the Morgan Stanley Private Markets ELTIF reflects our commitment to providing investors with access to high-quality private market opportunities. By leveraging our global network of opportunities and applying a rigorous investment process, we aim to offer attractive long-term returns while maintaining strong risk management. The ELTIF structure allows us to offer greater flexibility, making private markets more accessible to a wider range of investors.
Steve Turner, Head of Investment Selection of the Portfolio Solutions Group team
