A bottom-up focused fund with actively managed exposures to Unlisted Growth, Pre-IPO and direct IPO Investments.
Morgan Stanley Global Pre IPO Fund 2022 Series will invest in growth stage private companies located globally over a five year period.
The 2022 series of units in the Fund (2022 Series) is a “fund of funds” and will primarily invest in the following closed-end global wholesale pre-IPO funds (Underlying Funds) which the Investment Manager has been able to secure an allocation.
The investment objective of the 2022 Series is to generate a return (net of fees and costs) in excess of 20% p.a. over the life of the 2022 Series. These returns are calculated before tax has been deducted (if applicable) and after all fees and costs. This is only a target and may not be achieved.
The 2022 Series will be a “fund of funds” and will primarily invest in the following closed-end global wholesale pre-IPO funds (“Underlying Funds”) in the following proportions:
• Regal Emerging Companies Opportunities Fund (0-25%);
• Lazard Crossover Ventures Fund (0-25%);
• Altive Unicorns Fund (0-25%); and
• Perennial Private Global Fund (0-50%).
The Underlying Funds may draw all capital on day one and progressively invest or draw down on a progressive basis. The Investment Manager may retain a certain amount of cash at the Fund level to meet Fund expenses and fees.
The Fund will predominantly invest in companies that are in the private growth stage. Private growth stage businesses are companies that have established product market fit and are now demonstrating accelerated revenue growth. On exception, the Fund may also selectively invest in certain opportunities outside of these parameters, including earlier stage companies where the investment provides an attractive risk/return opportunity.