Morgan Stanley has announced an agreement to acquire EquityZen, a leading marketplace for pre-IPO investments. The move strengthens the firm’s leadership in private markets and builds on its ecosystem of services for private companies and shareholders. By integrating EquityZen’s issuer-aligned trading model with Morgan Stanley’s cap table and liquidity solutions, the firm aims to deepen its relationships with private companies while providing wealth clients and workplace participants broader access to private shares.

EquityZen, founded in 2013, connects shareholders of private companies with accredited investors and has completed more than 49,000 transactions across nearly 500 companies. Its integration into Morgan Stanley’s wealth management division will enable issuers to manage when and how their shares trade, giving them greater control over liquidity events. The acquisition complements Morgan Stanley’s recent partnership with Carta and aligns with its strategy to deliver comprehensive, end-to-end private market services.

This acquisition directly supports the Alts2Wealth theme, which reflects the surge in alternative investment initiatives across the wealth management industry. As more advisers seek differentiated offerings through access to private markets, Morgan Stanley’s integration of EquityZen positions the firm to meet growing client demand for liquidity, transparency, and diversification in alternatives. The deal, expected to close in early 2026, highlights how technology-driven platforms are transforming access to private investments for wealth clients.

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