Fundraising - JANUARY 5, 2018

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Morgan Stanley holds $2.73b final close for fund

by Jody Barhanovich

Morgan Stanley has held a $2.73 billion final close for its twelfth opportunistic real estate fund, North Haven Real Estate Fund IX Global, exceeding its $2.5 billion fundraising target. The firm did not comment on its fundraising efforts.

The fund completed its series of first closes in February 2017; however, the initial close occurred in December 2016.

North Haven Real Estate Fund IX Global is an opportunistic real estate investment vehicle that invests in properties globally.

Investors in the fund comprise a diverse group of public and private pension funds, sovereign wealth funds, insurance companies and family offices from Asia, Europe and the U.S., including a 100 percent re-up by the institutional investors in its predecessor fund, North Haven Real Estate Fund VIII Global.

Excluding co-investment vehicles, Fund IX’s fundraise was double the size of its predecessor, North Haven Real Estate Fund VIII Global, which held a 

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