Morgan closes infrastructure fund
James Gorman, Co-President of Morgan Stanley, said: "The highly successful fund-raising underscores the particular demand for infrastructure investment, and broadly, for alternative assets that generate long-term stable cashflows."
The fund raised its capital globally in North America, Europe, Australia, the Middle East and Asia.
Investors include major pension funds, insurance companies, high net worth individuals as well as Morgan Stanley and its employees. Gorman added: "Infrastructure is now a very important component of any asset allocation strategy.
"It offers portfolio diversification and the ability to invest in 'real' assets, with uncorrelated investment returns relative to other asset classes. To date, we have investments that exceed $1bn in enterprise value that have achieved higher than expected returns," said Sadek Wahba, Chief Investment Officer and Global Head of Morgan Stanley Infrastructure. "The current challenging market conditions are creating unique opportunities in the infrastructure sector, and we are benefitting from our global footprint that is generating a strong pipeline across the Americas, Europe and Asia."
Morgan Stanley Infrastructure's investment team is located in New York, London, Hong Kong and Beijing, with in-depth infrastructure experience across various sectors. The fund targets investments in assets that provide public goods or services in sectors such as transportation, energy and utilities and social infrastructure.
Morgan Stanley Infrastructure Partners is managed by Morgan Stanley Infrastructure, a global investment platform that focuses on long-term investments associated with providing essential public goods and services to societies across the world.