Morgan Stanley Buys EquityZen in First Deal for CEO Ted Pick

Morgan Stanley agreed to buy a trading platform for shares in private companies, the latest move by Wall Street to expand offerings for fast-growing startups.

The deal for EquityZen will make it easier for clients of Morgan Stanley’s wealth business to invest in private firms or, with the company’s approval, offload the shares they’re awarded as part of their equity compensation, according to a statement Wednesday. Terms of the deal, which is expected to close early next year, weren’t disclosed.

The tie-up “brings an institutional-grade infrastructure to a marketplace that hasn’t always been easy to ...