Core Insights - Morgan Stanley has acquired EquityZen to enhance its offerings in private markets, allowing clients to invest in private companies that are not publicly listed [2][4] - The trend of democratizing access to private investments is gaining momentum in wealth management, with increasing demand for private assets as companies remain private longer [2][4] Company Developments - The acquisition of EquityZen will enable Morgan Stanley advisors to provide clients with unique private investment opportunities [2] - Morgan Stanley's previous acquisition of Solium Capital, now Shareworks, has positioned the firm to service private companies and enhance liquidity options for employees [3][4] Market Trends - The number of publicly listed companies is at an all-time low, with over 95,000 private companies generating annual revenues exceeding $100 million, compared to around 10,000 public companies [4] - The demand for private investments is rising, as evidenced by BlackRock's $3.2 billion acquisition of Preqin, which included data on 200,000 private investments [4]