Morgan Stanley PE invests in China's Tianhe Chemicals

The US investment giant exceeded its $10bn target after an active 24 months of deals in the region, especially in India and Japan.

Morgan Stanley’s fourth Asia private equity fund is mainly targeting deals in China. It has a South Korean and an Indian transaction already in the bag.

The firm intends to build investment teams for Japan, India and Australia for the new $1.5 billion fund.

The US firm will invest in Japanese PE funds and direct co-investments.

Morgan Stanley Private Equity Asia makes first investment in Taiwan spending around NT$2.05 billion ($64 million) to acquire 19.9% stake in the country's leading engineering, procurement and construction company.

The $1.6bn fundraise more than doubled the fund’s target size of $750m. The mid-market strategy will focus on the technology, services and healthcare sectors, prioritising India, SE Asia, Japan and Australia.