Morgan Stanley AIP

Morgan Stanley Alternative Investment Partners (AIP) is the alternatives platform within Morgan Stanley Investment Management, managing approximately $60 billion in alternative assets. AIP is one of the longest-established hedge fund-of-funds and private markets solutions providers in the industry, with an investment history dating back several decades.

Investment Strategy

Morgan Stanley AIP operates across two primary areas: hedge fund solutions and private markets. The hedge fund solutions business constructs multi-manager portfolios by selecting and allocating to external hedge fund managers across equity long/short, event-driven, relative value, macro, and multi-strategy categories. AIP’s hedge fund research team evaluates hundreds of managers annually, combining quantitative analysis with qualitative assessment of investment processes, organizational structures, and risk management frameworks.

The private markets business includes fund-of-funds programs, secondary investments, and co-investment capabilities across private equity, private credit, and real assets. AIP’s private equity team allocates to buyout, growth equity, and venture capital managers through primary fund commitments and secondary market transactions.

AIP also offers multi-alternative solutions that blend hedge fund and private markets exposures into integrated portfolios designed to meet specific client objectives around return, risk, and liquidity.

Private Markets Approach

Morgan Stanley AIP’s private markets practice leverages the firm’s broader institutional relationships and capital markets expertise to source investment opportunities and evaluate managers. The team maintains a global GP network and executes transactions across vintage years, geographies, and strategies.

AIP’s co-investment program provides investors with direct deal exposure alongside the platform’s fund manager partners, offering concentrated positions at reduced fee levels. The secondary market capabilities allow AIP to construct portfolios with shorter duration profiles and enhanced diversification compared to primary-only programs.

Morgan Stanley AIP serves institutional investors, including pension funds, endowments, sovereign wealth funds, and insurance companies, as well as high-net-worth investors through Morgan Stanley’s wealth management distribution network. The platform operates from offices in New York, London, Hong Kong, and other major financial centers.