PRINT THIS PAGE Morgan Stanley closes $4bn global infrastructure fund12/05/2008. Source: AltAssets. 
Morgan Stanley has closed its Morgan Stanley Infrastructure Partners fund on $4bn, well above its initial $2.5bn target. The capital for the fund was raised from North American, European, Australian, Middle Eastern and Asian investors.
The fund targets investments in assets that provide public goods or essential services in sectors such as transportation, energy and utilities, social infrastructure and communications.
James Gorman, co-president of Morgan Stanley, said, 'The successful fundraising underscores the particular demand for infrastructure investment, and broadly, for alternative assets that generate long-term stable cash flows.
'Infrastructure is now an 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,' Gorman continued.
'To date, we have investments that exceed $1bn in enterprise value that have achieved higher than expected returns,' added Sadek Wahba, CIO and global head of Morgan Stanley Infrastructure. 'The current challenging market conditions are creating unique opportunities in the infrastructure sector, and we are benefiting 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.
Morgan Stanley Infrastructure is part of the Merchant Banking Division within Morgan Stanley Investment Management. Morgan Stanley Investment Management has $577bn in assets under management.
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