Morgan Stanley Private Equity Secondaries Completes Equity Financing Alongside RunTide Capital in ATSG and Evolve IP
31 Outubro 2024 - 11:00AM
Business Wire
Investment funds managed by Morgan Stanley Private Equity
Secondaries, through a vehicle managed by RunTide Capital,
announced today the completion of an equity financing to consummate
the combination between ATSG and Evolve IP.
ATSG is a global technology provider for cloud, IT managed
services, and cybersecurity, and Evolve IP is a global leader in
desktop-as-a-service, unified communications, contact center, and
other cloud services. The combined organization will create a
leading global IT managed services provider serving over 1,700
global customers across 950,000 end-users. The transaction is
expected to accelerate ATSG’s services and solutions capabilities
and further enhance the combined entity’s ability to solve
customers’ increasingly interconnected and complex technology
challenges.
Commenting on the transaction, Dan Wieder, Managing Director at
Morgan Stanley Private Equity Secondaries, said: “We are thrilled
to partner with RunTide Capital to support a transformational
combination of two attractively positioned IT services companies.
The combination creates a scaled platform with a best-in-class
suite of solutions led by an experienced management team. ATSG has
successfully executed on its multi-pronged approach to value
creation since our initial investment in 2021. We are excited to
use the continuation fund technology in novel ways to provide
further support to an existing investment in a leading middle
market platform backed by a highly specialized and aligned General
Partner.”
Morgan Stanley Private Equity Secondaries investment funds
invested in ATSG through a continuation fund transaction, alongside
RunTide Capital, in January 2021.
Rob Manning, Partner of RunTide Capital, noted: “We are
delighted to further our partnership with Morgan Stanley Private
Equity Secondaries through our investment in the ATSG platform. The
opportunity to bring together ATSG and Evolve IP marks an exciting
new chapter in our IT outsourcing investment thesis. The
complimentary portfolios, go-to-market strategies, and
technological capabilities will accelerate growth, bringing
enhanced services to an even wider global customer base.”
About RunTide Capital:
RunTide Capital is a private equity firm focused on building
tech-enabled growth companies. The Founding Partners are seasoned
investors with deep operating experience, having started their
careers as founders and C-level executives of high growth
technology companies. For more information, please visit
www.runtidecapital.com.
About ATSG:
ATSG is a leading global managed services provider, delivering
award-winning digital transformation services to today’s dynamic
enterprises. Its robust portfolio of premium managed services
includes Cloud, desktop-as-a-service, Network, Operations, and
Cybersecurity services. Headquartered in Manhattan, New York, ATSG
is a portfolio company of RunTide Capital, a private equity firm
focused on building tech-enabled growth companies.
About Morgan Stanley Private Equity Secondaries
Morgan Stanley Private Equity Secondaries, an investment team
within Morgan Stanley Investment Management, seeks to deliver
innovative private market solutions to a global client base. As
part of a broader team of 250 dedicated private markets focused
professionals, the secondaries business draws on decades of
investment experience across private markets. With a focus on
single asset GP-led transactions in developed buyout and growth
markets, the team structures compelling opportunities within less
efficient markets and has deployed $5.4 billion to 54 GP-led
secondaries transactions as of June 30, 2024. For further
information about Morgan Stanley Private Equity Secondaries, visit
www.morganstanley.com/im/ashbridge.
Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its
investment advisory affiliates, has more than 1,400 investment
professionals around the world and $1.6 trillion in assets under
management or supervision as of September 30, 2024. Morgan Stanley
Investment Management strives to provide outstanding long-term
investment performance, service, and a comprehensive suite of
investment management solutions to a diverse client base, which
includes governments, institutions, corporations and individuals
worldwide. For further information about Morgan Stanley Investment
Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services
firm providing a wide range of investment banking, securities,
wealth management and investment management services. With offices
in 42 countries, the Firm’s employees serve clients worldwide
including corporations, governments, institutions and individuals.
For further information about Morgan Stanley, please visit
www.morganstanley.com.
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Media Relations:
Morgan Stanley: Alyson Barnes
alyson.barnes@morganstanley.com
Morgan Stanley (NYSE:MS)
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