Morgan Stanley Real Estate has reportedly raised EUR 4.7 bn (EUR 3.8 bn) from investors for its new opportunity fund MSREF VII Global. The fund will focus on the US, Japan and Western Europe.
Morgan Stanley Real Estate has reportedly raised EUR 4.7 bn (EUR 3.8 bn) from investors for its new opportunity fund MSREF VII Global. The fund will focus on the US, Japan and Western Europe.
The news of the closing was first reported by the online news source PERE.
Morgan Stanley had originally sought to raise $10 bn when it launched the fund in 2007 but the banking group has had to moderate its plans since then because of the fall-out from the global economic crisis.
In April this year Morgan Stanley warned investors that its $8.8 bn MSREF VI fund could lose as much as $5.4 bn after being forced to take writedowns or hand back the keys on a range of investments around the globe, including Europe.
