Morgan Stanley Said to Seek Up to $3 Billion for Property Fund
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Morgan Stanley, the biggest property investor among Wall Street banks before the financial crisis, is trying to raise $1 billion to $3 billion for a new global real estate fund amid appetite for higher-yielding investments, said two people with knowledge of the effort.
The firm is seeking a large contribution from China Investment Corp., which owns 6.4 percent of New York-based Morgan Stanley, said one of the people, who spoke on condition of anonymity because the fundraising is private. Calls to CIC’s news department in Beijing weren’t immediately answered.