Morgan Stanley (MS.N) aims to raise $500 million from clients for a new fund that will invest in niche assets that may hard to liquidate quickly and are too complicated for most private equity or hedge funds, according to a document seen by Reuters.

The Wall Street bank is talking to investors about the private equity-style fund, called North Haven Tactical Value, that it plans to launch in the coming months, the document said.

The fund could potentially invest in assets that are far from the mainstream such as anticipated royalty sales from biotech firms, tax receivable agreements and index dividend swaps, as well as growth equity in fast-growing companies.

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