Morgan Stanley raises $138m for secondaries fund
A related vehicle, AIP Phoenix Global Real Estate Secondaries Fund II 2013, had a $65.5 million close earlier this month, according to an SEC filing. Morgan Stanley declined to comment on the matter.
AIP Phoenix Global Real Estate Secondaries Fund II launched in January 2013 with a $500 million fundraising goal. The secondaries fund will be seeking returns in the value-added to opportunistic range. No target close date has been disclosed at this time.