NEW YORK, NY — January 25, 2019 7:00 AM EST
Investment funds managed by Morgan Stanley Capital Partners (“MSCP”), the Private Equity team within Morgan Stanley Investment Management, announced today that they have completed an investment in Clarity Software Solutions (“Clarity” or the “Company”). MSCP is partnering with the current management team led by founder Sean Rotermund, who will remain CEO and continue to drive organic growth and product development during the investment. Clarity marks the ninth platform investment in MSCP’s North Haven Capital Partners Fund VI (“NHCP VI”) and the first healthcare investment.
Headquartered in Madison, CT, Clarity is a data and technology driven provider of member communication solutions for health insurance payors, third party administrators (“TPAs”), and dental insurance companies. The Company’s software collects, consolidates and cleanses its customers’ data from multiple sources to generate compliant and personalized digital member communications across the enrollment, claims and payments, and compliance functions of its customers.
Steve Rodgers, Managing Director of Morgan Stanley Capital Partners, said, “We are excited to partner with Clarity and its talented management team. The company has developed an innovative product that addresses the complex process of member communications for today’s healthcare organizations and we look forward to working together to build on this growth.” Rodgers joined MSCP in 2018 to lead health care investing for the platform.
Jim Howland, Managing Director and Operating Partner of Morgan Stanley Capital Partners, added, “We are delighted to work with Sean Rotermund, Steve Mongelli and the Clarity team and partner together as they continue to provide comprehensive engagement solutions that deliver differentiated value to their customers.”
Sean Rotermund, Founder and Chief Executive Officer of Clarity, said, “We are excited to team up with Morgan Stanley Capital Partners as we enter a new phase of growth to broaden our market presence and drive enhanced value to our customers. We are proud of the work we’ve accomplished and expect this new partnership to enrich our already strong foundation of operational excellence and superior customer experience.”
This investment is a continuation of MSCP’s focus on outsourced service providers that offer best in class solutions and reduce pain points for clients. Clarity follows other NHCP VI investments in outsourced providers which include CoAdvantage, a comprehensive HR and benefits provider to small and medium sized businesses and 24 Seven, a provider of digital and creative human capital management services.
TripleTree, LLC acted as the exclusive financial advisor to Clarity.
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners, the middle-market focused private equity business of Morgan Stanley Investment Management, is a leading middle-market private equity platform that has invested capital in a broad spectrum of industries for over two decades. Morgan Stanley Capital Partners focuses on privately negotiated equity and equity-related investments in North America and seeks to create value in portfolio companies primarily through operational improvement. 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 more than 663 investment professionals around the world and $463 billion in assets under management or supervision as of December 31, 2018. 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 investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.
Morgan Stanley Capital Partners manages a middle-market private equity platform. The team has invested capital in a broad spectrum of industries for over two decades.
FINRA BrokerCheck. Investors may check the background of their Investment Professional by contacting the Financial IndustryRegulatory Authority (FINRA). FINRA BrokerCheck is a free tool to help investors check the professional background of current andformer FINRA-registered securities firms and brokers. FINRA BrokerCheck is available by calling 1-800-289-9999 and at www.FINRA.org. The FINRA BrokerCheck brochure describing this program is available to investors at www.FINRA.org.
To report a website vulnerability, please go to Responsible Disclosure.
Eaton Vance, Atlanta Capital, Parametric and Calvert are part of Morgan Stanley Investment Management. Morgan Stanley Investment Management is the asset management division of Morgan Stanley.
MSIM, the asset management division of Morgan Stanley (NYSE: MS), and its affiliates have arrangements in place to market each other’s products and services. Each MSIM affiliate is regulated as appropriate in the jurisdiction it operates. MSIM’s affiliates are: Eaton Vance Management (International) Limited, Eaton Vance Advisers International Ltd, Calvert Research and Management, Eaton Vance Management, Parametric Portfolio Associates LLC, and Atlanta Capital Management LLC.
For USA PATRIOT Act Disclosure Notice please click here.
This image indicates content designed specifically for Financial Advisors / Investment Professionals. This material is not to be used with the public.
Before investing in any Eaton Vance, Calvert or Morgan Stanley Investment Management Inc.-advised fund, prospective investors should consider carefully the investment objective(s), risks, and charges and expenses. Read the prospectus carefully before you invest or send money. For open-end mutual funds, the current prospectus contains this and other information. To obtain an open-end mutual fund prospectus or summary prospectus and the most recent annual and semiannual shareholder reports, contact your financial advisor or download a copy here. For closed-end funds, you should contact your financial advisor. To obtain the most recent annual and semi-annual shareholder report for a closed-end fund contact your financial advisor or download a copy here. To obtain an exchange-traded fund, ("ETF") prospectus or summary prospectus, contact your financial advisor or download a copy here.
Before purchasing any variable product, consider the objectives, risks, charges, and expenses associated with the underlying investment option(s) and those of the product itself. For a prospectus containing this and other information, contact your investment or insurance professional. Read the prospectus carefully before investing.
Morgan Stanley Investment Management does not provide tax or legal advice. Prospective investors should consult with a tax or legal advisor before making any investment decision. The information on this Web page is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase, securities in any jurisdiction to any person to whom it is not lawful to make such an offer.
© Eaton Vance Management. All rights reserved.
Morgan Stanley Distribution, Inc. serves as the distributor for Morgan Stanley Funds. Morgan Stanley Distribution, Inc. Member FINRA / SIPC. Eaton Vance open-end mutual funds are offered through Eaton Vance Distributors, Inc. One Post Office Square, Boston, MA 02109. Member FINRA/SIPC. Exchange-traded funds are distributed by Foreside Fund Services, LLC.
NOT FDIC INSURED | OFFER NO BANK GUARANTEE | MAY LOSE VALUE | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT A DEPOSIT