# EDGAR Filing Document

**Accession Number:** 0002061233
**File Stem:** 0001104659-26-077611
**Filing Date:** 2026-6
**Character Count:** 3685
**Document Hash:** aa52e50903b58bbbbc1b8b8eba2a444f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-077611.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0001104659-26-077611

**CONFORMED SUBMISSION TYPE**: 424B3

**PUBLIC DOCUMENT COUNT**: 12

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Morgan Stanley Private Markets & Alternatives Fund
- **CENTRAL INDEX KEY:** 0002061233

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 424B3
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-292406
- **FILM NUMBER:** 261118664

**BUSINESS ADDRESS:**
- **STREET 1:** 60 EAST 42ND STREET, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10165
- **BUSINESS PHONE:** 212-994-7344

**MAIL ADDRESS:**
- **STREET 1:** 60 EAST 42ND STREET, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10165

?xml version='1.0' encoding='ASCII'? Morgan Stanley Private Markets & Alternatives Fund - 2061233 - 2026

**<u>Filed Pursuant to Rule 424(b)(3)</u>**

**<u>Registration No. 333-292406</u>**

**MORGAN STANLEY PRIVATE MARKETS AND ALTERNATIVES FUND**

**(the "Fund")**

**Supplement dated June 25, 2026, to the**

**Prospectus and Statement of Additional Information (the "SAI"), dated May 14, 2026**

Upon the recommendation of iCapital Fund Advisors LLC (the "Adviser"), the Board of Trustees (the "Board") of the Fund recently approved changes to the Fund's name and principal investment strategy. The Fund's current investment objective to seek long-term capital appreciation will not change. The changes will be effective after the close of business on June 25, 2026 (the "Effective Date").

On the Effective Date, the Fund's name will change to "Morgan Stanley Private Markets and Alternatives Fund - Balanced". Additionally, on the Effective Date, the Fund will, directly or indirectly, invest, under normal circumstances, at least 25% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) in each of (i) debt and debt-related securities; and (ii) equity and equity-related securities.

Accordingly, on the Effective Date, the Fund's Prospectus will be revised as follows:

All references to Morgan Stanley Private Markets and Alternatives Fund are replaced with Morgan Stanley Private Markets and Alternatives Fund - Balanced.

The following sentence is added to the section of the cover page of the Prospectus entitled "Investment Portfolio":

Under normal circumstances, the Fund will, directly or indirectly, invest at least 25% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) in each of (i) debt and debt-related securities; and (ii) equity and equity-related securities.

The following sentence is added to the fifth paragraph in the section of the Prospectus Summary entitled "Investment Program":

Under normal circumstances, the Fund will, directly or indirectly, invest at least 25% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) in each of (i) debt and debt-related securities; and (ii) equity and equity-related securities.

The following sentence is added to the fifth paragraph in the section of the Prospectus entitled "Investment Program - Investment Objective and Philosophy":

Under normal circumstances, the Fund will, directly or indirectly, invest at least 25% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) in each of (i) debt and debt-related securities; and (ii) equity and equity-related securities.

**Please retain this supplement for future reference.**