Morgan Stanley Capital Partners concludes $3.2 billion Fund VIII, reinforcing commitment to U.S. middle-market transactions
Morgan Stanley Capital Partners (MSCP) has announced the successful closure of its North Haven Capital Partners VIII (NHCP VIII) fund, surpassing its original target of $2.5 billion with total capital commitments of approximately $3.2 billion. The fundraising was completed in less than 12 months, demonstrating strong investor confidence in MSCP's sector-focused, operationally engaged approach to value creation.
The fund, which reached its hard cap of $3.0 billion, represents a 60% increase from the previous fund, North Haven Capital Partners VII, which closed at about $2.0 billion in 2021. The diverse investor base includes existing investors, new institutional investors, high-net-worth family offices, and Morgan Stanley Wealth Management clients across North America, South America, Europe, and Asia.
MSCP's focus for NHCP VIII remains on the North American lower-middle market, with a particular interest in companies operating within the business services and technology sectors. The firm seeks businesses with annual EBITDA of $1 million or more, aiming to leverage its long-standing operating partner model to drive growth, innovation, and value creation.
Approximately 17% of Fund VIII has already been deployed into three platform investments: American Restoration, FoodScience, and Thermogenics. MSCP will continue to apply its proprietary value creation playbook, focused on operational improvement, market expansion, and organic growth acceleration.
David N. Miller, Global Head of Private Credit and Equity at MSCP, commented on the fundraise, stating that it underscores investor confidence in the firm's model. MSCP will maintain its longstanding strategy of control investments in founder-led and entrepreneur-driven businesses.
Despite macroeconomic uncertainties, MSCP demonstrates confidence in ongoing economic growth opportunities in the U.S. middle market. The firm views the U.S. middle market as a dynamic engine of economic growth and entrepreneur-driven innovation, and they are optimistic about finding attractive valuations given current market conditions.
References: [1] Morgan Stanley Capital Partners. (2025). Press Release: Morgan Stanley Capital Partners Closes North Haven Capital Partners VIII at $3.2 Billion. Retrieved from https://www.morganstanley.com/institutional/private-equity/news/press-releases/2025/north-haven-capital-partners-viii-fund-close.html [2] Private Equity International. (2025). Morgan Stanley Capital Partners raises $3.2bn for eighth North Haven fund. Retrieved from https://www.peimedia.com/3974571/Morgan-Stanley-Capital-Partners-raises-3-2bn-for-eighth-North-Haven-fund [3] PitchBook Data Inc. (2025). Morgan Stanley Capital Partners Closes North Haven Capital Partners VIII at $3.2 Billion. Retrieved from https://pitchbook.com/news/articles/morgan-stanley-capital-partners-closes-north-haven-capital-partners-viii-at-3-2-billion [4] Thomson Reuters. (2025). Morgan Stanley Capital Partners closes North Haven Capital Partners VIII at $3.2 billion. Retrieved from https://www.reuters.com/business/finance/morgan-stanley-capital-partners-closes-north-haven-capital-partners-viii-3-2-billion-2025-06-01/ [5] Buyouts Insider. (2025). Morgan Stanley Capital Partners raises $3.2 billion for eighth North Haven fund. Retrieved from https://www.buyoutsinsider.com/2025/06/01/morgan-stanley-capital-partners-raises-3-2-billion-for-eighth-north-haven-fund/
- The recently closed North Haven Capital Partners VIII fund, managed by Morgan Stanley Capital Partners (MSCP), exceeded its original target of $2.5 billion, securing approximately $3.2 billion in total capital commitments.
- The fundraising, completed in under 12 months, demonstrates strong investor confidence in MSCP's sector-focused, operationally engaged approach to value creation.
- After reaching its hard cap of $3.0 billion, which marks a 60% increase from the previous fund, the diverse investor base includes existing investors, new institutional investors, high-net-worth family offices, and Morgan Stanley Wealth Management clients across various continents.
- With approximately 17% of Fund VIII already deployed into three platform investments – American Restoration, FoodScience, and Thermogenics – MSCP plans to continue applying its proprietary value creation playbook, focusing on operational improvement, market expansion, and organic growth acceleration.
