Beats | May 19, 2017

Morgan Stanley has raised $125 million for an impact investing fund of funds

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Morgan Stanley said it had secured commitments of more than $125 million for one of the largest impact fund of funds to date. The response to PMF Integro Fund I shows increasing client demand for sustainable investing products, according to Morgan Stanley’s Institute for Sustainable Investing, which helped develop the fund.

Integro I will invest in socially- and environmentally-focused private equity funds with a focus on emerging and frontier markets and expects to earn commercial rate returns. “The fund epitomizes our belief as a firm that there are opportunities for investors of all types to pursue both positive financial return and sustainable impact,” said James Gorman, Morgan Stanley’s CEO.

The fund will provide detailed impact reporting alongside its financial statements. The investment is open to institutional and high net worth private clients. In March, Morgan Stanley’s Investing with Impact platform added two products for smaller investors, with minimum commitments of $10,000.