Morgan Stanley Real Estate Investing (MSREI) has raised $3.1bn (€2.6bn) for its latest global opportunistic real estate fund.
The manager said the amount raised for North Haven Real Estate Fund X Global (G10) exceeded the fund’s original fundraising target. The predecessor fund, North Haven Real Estate Fund IX Global, raised $2.73bn in December 2017.
As previously reported, Maryland State Retirement and Pension System issued a $100m commitment to the fund.
MSREI said G10’s investors include a group of public and private pension funds, sovereign wealth funds, insurance companies, and individuals from around the world, with over 80% of the institutional capital representing commitments from existing North Haven Real Estate clients.
The manager said capital deployment for G10 is well underway and MSREI has a substantial pipeline of opportunities in process.
John Klopp, the head of global real assets for Morgan Stanley Investment Management, said: “We are extremely pleased with the continued investor support and trust from both our long-standing partners as well as new investors in G10, the next in our global real estate fund series.
“In today’s environment, sophisticated investors are increasing their allocations to real assets, seeking the strong returns, diversification and inflation protection that real estate and infrastructure can provide.”
Dan Simkowitz, head of Morgan Stanley Investment Management, said the strong investor demand for this fund “underscores our continued focus on providing public and private markets solutions across real estate and infrastructure which meet our clients’ objectives”.
“G10 builds on the strength of our growing alternatives platform that has over $100bn in assets under management including $52bn in real assets strategies.”
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