Morgan Stanley Infrastructure Partners has raised $5.5bn (€4.5bn) for its third global infrastructure fund at final close.

The fund’s predecessor raised $3.6bn in 2016.

As previously reported, the North Haven Infrastructure Partners III fund received $2.1bn of commitments in a first close in June.

IPE Real Assets also reported last month that New York State Common Retirement Fund is investing $300m into the value-add infrastructure fund.

The manager said North Haven Infrastructure Partners III received capital commitments from a number of institutional investors, including public and private pension funds, sovereign wealth funds and insurance companies.

Markus Hottenrott, CIO for Morgan Stanley Infrastructure Partners, said:  “We are grateful for the trust and support from both our long-standing partners as well as new investors.

“We are confident that our active approach to value creation, together with the reach of the Morgan Stanley platform, will continue to deliver results for our clients.”

North Haven Infrastructure Partners III’s focus sectors include transportation, power generation, natural gas infrastructure and digital Infrastructure.