Morgan Stanley announced its agreement to acquire EquityZen, a trading platform specializing in shares of private companies, marking the bank's first acquisition under CEO Ted Pick. The deal underscores Wall Street's growing focus on private market access as startups delay public offerings.

As reported by AdvisorHub, the acquisition will allow Morgan Stanley's wealth management clients to more easily invest in private companies or sell equity compensation shares with company approval.

AdvisorHub also reports that rival firms have made similar moves. Goldman Sachs recently announced its plan to acquire venture-capital investor Industry Ventures, while JPMorgan Chase has deepened its presence in Silicon Valley following its 2023 acquisition of First Republic Bank.