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- Dubai 04:31 05:49 12:21 15:48 18:47 20:05
NEW YORK Morgan Stanley, the sixth-largest bank by assets, said its fund of funds business raised $370 million (Dh1.35 billion) to invest in private-equity real-estate funds. Morgan Stanley's Alternative Investment Partners raised the commitments that exceeded the firm's $250m target for its Phoenix Global Real Estate Secondaries 2009 LP fund, the New York-based company said yesterday in a statement. The fund will take secondary interests from mostly small to mid-size fund managers.
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