Morgan Stanley Capital Partners Completes Sale of World 50 to New Continuation Fund Investment Vehicle
26 Marzo 2024 - 1:00PM
Business Wire
Investment funds managed by Morgan Stanley Capital Partners
(“MSCP”) today announced the sale of World 50 Parent LLC and its
related subsidiary companies (“World 50” or the “Company”) to a
single asset GP-led continuation fund investment vehicle managed by
an affiliate of MSCP. The continuation fund is led by investments
from Pantheon with co-lead participation from Blue Owl Strategic
Equity and Lexington, with Norwest, Ares Management Funds,
AltamarCAM and Churchill also committing to the vehicle.
Headquartered in Atlanta, Georgia, World 50 is an
invitation-only, peer-to-peer network and knowledge exchange
platform. Global CEOs, board directors, and senior executives
across a variety of functions – from 37 countries across six
continents – join World 50 to learn from one another, build
relationships, and engage with the World 50 community to discover
powerful insights. Since investing in World 50 in 2020, MSCP has
partnered with Company management to further build out the offering
and continuously improve the member experience through
complimentary services and products. The Company’s focus on
creating an unmatched member experience has further cemented World
50 as an important resource to its members, which in turn, has led
to consistent growth for the Company.
“We are proud to have partnered with the World 50 management
team through this past chapter, ultimately transforming World 50
into what we believe to be a differentiated, leading platform,”
said Adam Shaw, Managing Director and Head of Business Services at
MSCP. “We believe World 50 is a unique business model with multiple
levers for continued growth. We appreciate the World 50 team’s
extraordinary talent and dedication over the past four years and
look forward to being a value-added partner in the Company’s next
chapter.”
“Morgan Stanley Capital Partners has been an outstanding partner
over the past four years, helping solidify World 50’s position as
an invaluable resource to our members, which has delivered
exceptional value to them and growth for the company,” said David
Wilkie, former CEO and current Chairman of the Board of World
50.1
World 50 CEO Ken Davis, added: “We are extremely excited for the
growth opportunities ahead at World 50 and look forward to
continuing our partnership with the MSCP team to deliver a
differentiated experience for our members.”
Baird acted as lead transaction advisor to MSCP on the
continuation fund while Harris Williams provided industry related
advice to MSCP, and Debevoise & Plimpton served as legal
advisor to MSCP.
About World 50
Headquartered in Atlanta, GA, World 50 is a leading peer to peer
community for CEOs, board directors, C-suite executives, and
emerging enterprise leaders at globally respected organizations.
Since 2004, World 50 has served as a beacon for the senior most
executives to stay ahead. Through highly curated product and
service offerings, World 50 fosters small, private communities for
executives from a multitude of functions and industries to build
impactful relationships with one another, work through challenges,
and elevate their impact as leaders. World 50 members are at the
forefront of transformation, leading organizations with a total
market cap exceeding US $34 trillion and more than 37 million
employees worldwide. World 50’s mission remains laser focused on
accelerating the success of the company’s members, their teams, and
their organizations. For more information about World 50, please
visit: world50.com
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners, part of Morgan Stanley
Investment Management, is a leading middle-market private equity
platform that has invested capital for over three decades. Morgan
Stanley Capital Partners focuses on privately negotiated equity and
equity-related investments primarily in North America and seeks to
create value in portfolio companies primarily in a series of
subsectors in the business services, consumer, healthcare,
education and industrials markets with an emphasis on driving
significant organic and acquisition growth through an operationally
focused approach. For further information about Morgan Stanley
Capital Partners, please visit
www.morganstanley.com/im/capitalpartners.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its
investment advisory affiliates, has approximately $1.5 trillion in
assets under management or supervision as of December 31, 2023.
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.
About Pantheon
Pantheon is a leading global private markets specialist,
currently investing $62bn in discretionary AUM (as of September 30,
2023) on behalf of more than 1,000 investors, including
institutional investors of all sizes as well as a growing number of
private wealth advisers and investors. Pantheon has been at the
forefront of private markets investing for more than 40 years,
earning a reputation for providing innovative solutions covering
the full lifecycle of investments across private equity, real
assets and private credit. The firm is a pioneer in global
secondaries and has been investing in the segment since 1987, since
which time it has committed approximately $27bn to secondary
transactions, including close to $18bn to private equity
secondaries across over 400 transactions.
_________________ 1 David Wilkie is the current Chairman of the
Board of World 50, an MSCP Portfolio Company. Although MSCP did not
compensate David Wilkie for this statement, David Wilkie is an
investor in certain funds advised by MSCP and, as a portfolio
company executive, he is subject to certain conflicts of interest.
Other portfolio companies or their executives may have different
views and experiences from those expressed herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20240325571944/en/
Morgan Stanley Contact: Alyson Barnes,
Alyson.Barnes@morganstanley.com
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