Morgan Stanley Infrastructure Partners has raised more than half of the $4bn (€3.6bn) it set out to raise for its latest fund.
According to sources, North Haven Infrastructure Partners III received $2.1bn (€1.9bn) of commitments in a first close in June.
The fund’s predecessor raised $3.6bn in 2016.
The new fund has a global value-add strategy and will target energy, utilities and transportation assets in developed markets.
The Teacher Retirement System of Texas said it approved a $200m commitment last month.
The $153bn pension fund also said it had committed $75m to the Actis Long Life Infrastructure Fund, an emerging markets-focused fund.
Last month, Actis said it raised $1.23bn for the fund, which together with co-investment means it has up to $2bn of investment capacity.
- Actis Long Life Infrastructure Fund
- American Investors
- Capital Raising
- Investment Strategies
- Investment Vehicles
- Morgan Stanley
- Morgan Stanley Infrastructure
- North Haven Infrastructure Partners
- Pension Funds
- Teacher Retirement System of Texas
- US Investors