Mumbai: Global financial services major Morgan Stanley said on 12 May it has successfully closed the Morgan Stanley Infrastructue Partners (MSIP) fund with $4 billion of equity commitments.
The fund, which had set an initial target of $2.5 billion, would invest in assets that provide public goods or essential services in sectors such as transportation, energy and utilities, social infrastructure and communications, the company said in a press release issued here.
“The successful fund-raising underscores the particular demand for infrastructure investment and for alternative assets..it offers portfolio diversification and the ability to invest in real assets,” Morgan Stanley co-president James Gorman said in the statement.
The fund was raised from markets in North America, Europe, Australia, Middle East and Asia and the investors included major pension funds, insurance companies and HNIs, it said.
MSIP is managed by the company’s global investment platform, Morgan Stanley Infrastructure, which is a division of the merchant banking division within Morgan Stanley investment management, the company said.
Morgan Stanley investment management has assets worth $577 billion under management as on 29 February, 2008, the company said, adding it is operating from 600 offices in 33 countries.