Morgan Stanley Dean Witter

Morgan Stanley Dean Witter was the name of the global financial services firm Morgan Stanley following its merger with Dean Witter Discover & Co. in 1997, a name it held until 2001 when it reverted to Morgan Stanley. While primarily known for its investment banking, wealth management, and brokerage services, the firm has always maintained significant principal investment activities. These activities, now primarily housed within Morgan Stanley Investment Management (MSIM), encompass a range of private equity and growth equity strategies, providing capital to private companies across various stages and sectors.

Within MSIM, key platforms like Morgan Stanley Capital Partners (MSCP) and Morgan Stanley Expansion Capital are responsible for direct private investments. MSCP typically focuses on middle-market buyouts and growth equity investments, targeting established companies with strong growth potential. Morgan Stanley Expansion Capital, on the other hand, specializes in growth equity investments, primarily in technology, healthcare, and consumer sectors, supporting companies that are beyond the early startup phase but require significant capital for scaling operations and market expansion. These dedicated teams leverage Morgan Stanley's extensive global network and industry expertise to support portfolio companies.

As an investor, Morgan Stanley, through its various private equity and growth equity funds, typically targets later-stage and growth-stage companies rather than early-stage venture capital opportunities. Their investment cheques can range significantly, with typical first cheques for growth equity investments starting around $10 million and extending up to $250 million for larger private equity deals. The firm's substantial capital base, with Morgan Stanley Investment Management managing approximately $1.5 trillion in assets, allows it to be a significant and long-term capital partner for companies seeking substantial growth funding or strategic buyouts.