Morgan Stanley Real Estate Investing (MSREI) has raised $1.7 bn (€1.56 bn) for its eighth global opportunistic real estate fund.
Morgan Stanley Real Estate Investing (MSREI) has raised $1.7 bn (€1.56 bn) for its eighth global opportunistic real estate fund.
The closed-end fund, North Haven Real Estate Fund VIII Global (G8), has already carried out a series of transactions.
'G8’s flexible, global mandate allows us to look across all of our markets and select those opportunities which we believe offer the best risk-adjusted returns,' said Olivier de Poulpiquet, co-chief executive officer and co-chief investment officer for MSREI. 'The G8 investment programme is well underway, with transactions already closed in the US, UK, Austria, Japan and Australia.'
G8's equity backers are a 'sophisticated group of public and private pension funds, sovereign wealth funds, insurance companies, family offices and individuals from around the world', according to John Klopp, the other co-CEO and co-CIO at MSREI. 'We will apply the same philosophy and patient, disciplined approach to investing their capital that we do across all of our strategies,' Klopp added.