PRINT THIS PAGE Morgan Stanley closes debut Asia fund with commitments of $515m11/08/2005. Source: AltAssets. 
 Investment bank Morgan Stanley has raised its first Asian private equity fund with commitments of $515m. Some $450m was raised from third parties and the balance from the bank and its employers, according to reports.
Although the fund is the bank's first dedicated vehicle for investing in the region, Morgan Stanley has been active in Asian private equity for a number of years.
Its most notable success was the 14 times return it generated from the sale to HSBC of Chinese life assurance firm Ping An that it bought in 1994.
The successful closing further extends the growing list of large funds targeting Asia that have been raised over the past 12 months.
They include CVC Asia's $2bn fund, Affinity's $700m fund, and Australia's $750m CHAMP II fund.
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