Morgan Stanley Capital Partners Closes Fund VIII at $3.2 Billion - InforCapital

Morgan Stanley Capital Partners (MSCP), the middle market private equity team at Morgan Stanley Investment Management, has closed North Haven Capital Partners VIII (Fund VIII) with approximately $3.2 billion in capital commitments.

Fund VIII was significantly oversubscribed—surpassing its initial $2.5 billion target and reaching its $3.0 billion hard cap within 12 months of its first close in Q3 2024. This reflects a 60% increase compared to Fund VII, which closed at ~$2.0 billion in 2021.

The fund attracted strong backing from both existing and new investors, including leading institutional investors, high-net-worth family offices, and Morgan Stanley Wealth Management clients across North and South America, Europe, and Asia.

Aaron Sack, Head of MSCP, highlighted favorable valuation opportunities in the U.S. middle market and emphasized the team's focus on partnering with founders and management to build growth-focused businesses, while navigating macroeconomic uncertainty.

The strategy continues MSCP’s long-standing approach of executing control investments in U.S. middle-market companies across consumer, business services, healthcare, and industrial sectors. The team will deploy its proprietary value-creation playbook to drive organic growth, new market expansion, and operational transformation.

David N. Miller, Global Head of Private Credit and Equity, noted that the solid capital raise reflects market confidence in MSCP’s hybrid model—blending Morgan Stanley’s global capabilities with deep in-house operating expertise to deliver consistent returns.

To date, Fund VIII has deployed approximately 17% of capital commitments across three initial investments:

• American Restoration: residential and commercial mitigation & restoration services
• FoodScience: vertically integrated provider of pet and human nutritional supplements
• Thermogenics: industrial and commercial boiler service and maintenance provider in North America