Morgan Stanley Investment Management raises USD3.1bn for North Haven Real Estate Fund X Global
Morgan Stanley Real Estate Investing (MSREI), the private real estate investment arm of Morgan Stanley Investment Management, has raised ~USD3.1 billion for North Haven Real Estate Fund X Global (G10), exceeding its original fundraising target and surpassing the size of its predecessor fund, North Haven Real Estate Fund IX Global.
G10 investors include a sophisticated group of public and private pension funds, sovereign wealth funds, insurance companies, and individuals from around the world, with over 80 per cent of the institutional capital representing commitments from existing North Haven Real Estate clients.
G10 has been established to make value-add/opportunistic real estate investments globally with the goal of generating superior risk-adjusted returns utilising prudent leverage. With a flexible global mandate and a patient, disciplined approach, G10 will follow a strategy that the MSREI team has successfully employed in its three predecessor global funds – G7, G8, and G9 – across which they have acquired over USD17 billion of gross real estate assets in over 100 separate investments. Capital deployment for G10 is well underway and MSREI has a substantial pipeline of opportunities in process.
"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," says John Klopp, Head of Global Real Assets for Morgan Stanley Investment Management.
"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," says Dan Simkowitz, Head of Morgan Stanley Investment Management. "G10 builds on the strength of our growing alternatives platform that has over USD100 billion in assets under management including USD52 billion in Real Assets strategies."