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Morgan Stanley raises US$1.7b for real estate fund

[NEW YORK] Morgan Stanley said on Wednesday it has raised US$1.7 billion for its eighth direct investment real estate fund.

The fund, called North Haven Real Estate Fund VIII Global, has already made investments in the United States, UK, Austria, Japan and Australia.

The fund's investors include public and private pension funds, sovereign wealth funds, insurance companies and family offices, said John Klopp, co-chief executive officer and co-chief investment officer for Morgan Stanley Real Estate Investing.

Morgan Stanley renamed its closed-end funds across private equity, real estate and credit earlier this year to North Haven as a result of new regulatory rules.