Wednesday, June 20, 2007

Bloomberg.com: Morgan Stanley Raises $8 Billion for Real Estate Fund (Update2)

June 20 (Bloomberg) -- Morgan Stanley raised $8 billion to create the world's largest global property fund, outstripping rivals including Blackstone Group Inc. as demand for real estate assets is fueling an acquisition spree.

Morgan Stanley will invest almost half of the money in Japan and about 25 percent in emerging markets including China and India. The New York-based securities firm contributed ``just over 20 percent'' of the total equity in the fund and the rest came from institutional and retail investors, Morgan Stanley said in a statement today. .........Bloomberg.com: Worldwide


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