International Finance Corporation, the World Bank's investment arm, is planning to commit between $20 million to $25 million in North Haven Thai Private Equity, a Thai-focused fund managed by Morgan Stanley's Asian private equity unit, according to a disclosure from IFC.
Capital raised from North Haven Thai Private Equity, which is targeting $300 million, will be invested in mid-market companies with significant operations in Thailand.
IFC also said it could co-invest in the fund's portfolio companies as well as add value by providing sector knowledge and expertise.
Eric Ma and Chong Toh, co-heads of Morgan Stanley Private Equity Asia, will manage the fund.
In October last year Morgan Stanley used its $1.7 billion 2014-vintage Asia buyout fund to invest $46.2 million in diaper maker DSG International Thailand.
The unit is also preparing to launch its fifth pan-Asian fund, which is targeting $2 billion, according to media reports.
