The EM Program seeks to identify and provide capital, as
well as strategic advice and infrastructure solutions, to emerging asset
managers (Emerging Managers), with a specific emphasis on minority and
women-owned asset managers, the announcement said. The program will be headed
by Morgan Stanley veteran Carla A. Harris.
The new EM Program, according to the announcement, will
partner with long-only (equity and fixed income) and alternative minority and
women-owned asset managers to:
- Increase the number of Emerging Managers of scale and heighten the Emerging Manager opportunity for growth and success; and
- Introduce plan sponsors and other institutional investors to a larger, more diversified pool of Emerging Managers and the means to participate in the success of emerging talent.
The EM Program will be a part of Alternative Investment
Partners (AIP), a division of MSIM which manages portfolios of private equity,
hedge fund, and real estate investments on behalf of institutional and high net
worth clients. The manager participants in the EM Program will be overseen by
an Investment Committee comprising representatives and senior management from
across Morgan Stanley and MSIM.
“We believe that Emerging Managers will present attractive opportunities over the next few years, particularly as public and corporate pension plans seek to diversify their asset management providers and employees look for diverse asset managers among the choices on their employer defined contribution platforms. This program will increase the opportunity for plan sponsors and other institutional investors to get exposure to a larger pool of untapped talent and to place assets with a diverse group of managers,” said Harris in the announcement.