Morgan Stanley to launch private-share platform for wealthy clients – WSJ

Morgan Stanley will be rolling out a new offering for its wealthy clients that would allow them to invest in shares of promising privately held startups, The Wall Street Journal reported Nov. 9, citing company executives.

The private-share platform, which will require at least $20 million in assets from interested investors, is anticipated to launch next year and will be led by Mike Gaviser, who has held senior fundraising roles in KKR & Co. Inc. and AllianceBernstein LP, according to the report.

While companies veer away from ad hoc trading of their shares to remain in control of prices and who would own the shares, executives told the news outlet that Morgan Stanley's offering would let companies set the price on any issued and traded shares on the platform.

The product will allow Morgan Stanley to introduce its investment bankers to up-and-coming companies that are nearing an IPO and, at the same time, introduce its financial advisers to selling employees who may need someone to manage their profits, the publication added.