Morgan Stanley Investment Management holds final close on $1.6bn credit fund

North Haven Credit Partners III exceeds target by 29%, will focus on junior capital investments in private North American businesses.

Morgan Stanley Investment Management said it held a final close on $1.6 billion in its North Haven Credit Partners III, exceeding its original target of $1.25 billion by 29 percent.

The manager said in a press release that the fund, managed by the Morgan Stanley Private Credit team, will focus primarily on junior capital investments in private North American businesses, including second-lien debt, mezzanine debt, preferred equity and special situations.