Business
Morgan Stanley Wealth Management Expands Access to Private Markets and Alternatives with PMAX - Balanced and PMAX - Growth Funds
Morgan Stanley Wealth Management Expands Access to Private Markets and Alternatives with PMAX - Balanced and PMAX - Growth
About this update from Morgan Stanley
Morgan Stanley Wealth Management announced that it has expanded access to the Morgan Stanley Private Markets and Alternatives Fund ("PMAX") by registering it as PMAX - Balanced. This change removes the accredited investor requirement, lowers minimum investment amounts, and introduces daily subscriptions, making private market strategies accessible to a broader range of clients through a simplified, professionally managed investment vehicle. Morgan Stanley Wealth Management is also adding to its PMAX product suite with the launch of PMAX - Growth, a fund with a growth-focused allocation, and plans to introduce additional strategies with targeted investment objectives. Historically, access to private markets was primarily limited to institutions and ultra-high-net-worth investors, but the PMAX fund platform now broadens access to institutional-quality private market investment managers for more clients. This expansion comes as private markets continue to gain momentum. Global Alternatives AUM is expected to exceed $30 trillion in 2030, up from less than $10 trillion a decade ago, driven by companies staying private longer and increasing investor demand for opportunities beyond public markets.1 Over the same period, the number of public companies has declined significantly, while 84% of companies generating $100 million or more in revenue remain private.2 Morgan Stanley Wealth Management continues to see substantial growth in alternative investments, with over $300 billion in client assets under management.3 This achievement positions the Firm as a leading provider of alternative investment solutions in the wealth management sector and underscores its 45-year history of excellence in this space, extensive resources, and a dedicated team of nearly 350 alternatives professionals. “Our PMAX platform reflects our commitment to broadening access to private markets through innovative products designed to meet a wider range of client needs,” said Alison Nest, Head of Investment Solutions Products. “By expanding the platform and making it easier to invest, we are giving clients and advisors more ways to build diversified portfolios aligned with their investment objectives.” PMAX platform overview PMAX - Balanced, with currently over $1B in AUM4, is a multi-manager portfolio offering diversified exposure across private equity, private credit, real estate and infrastr...