Morgan Stanley’s Dennis Says Private Market Evergreens in Demand

Evergreen funds are in high demand from investors opting for returns in private markets though individual investors stay largely excluded from the asset class, according to Elizabeth Dennis, Morgan Stanley’s global head of client coverage.

“Our clients are mostly focused on getting access to those private companies” as many firms choose to stay private for longer, Dennis said in a Bloomberg Television interview on Wednesday.

Morgan Stanley is among Wall Street giants seeking a slice of the $13 trillion global private markets. In April, it launched its North Haven Private Assets Fund in a push ...