Morgan Stanley private markets fund files issuer tender offer

Morgan Stanley Private Markets & Alternatives Fund-Balanced filed a Schedule TO-I issuer tender-offer statement with the SEC on Nov. 13.

The filing is indexed under issuer tender offers, with the fund named as the subject. That designation means the fund itself is offering to buy back shares from its own holders rather than issuing new shares.

For advisors with client positions in the fund, the key term is whether the offer is met in full or prorated. That determines how quickly a semi-liquid holding turns into cash for a client.