Morgan Stanley Is Close to Launching Third Infrastructure Fund

Morgan Stanley is set to begin raising its third infrastructure fund, according to people with knowledge of the matter.

The firm’s infrastructure unit, which is part of Morgan Stanley Investment Management, is planning on formally wooing investors starting early next month, said one of the people, who asked not to be named because the matter is private. Morgan Stanley is poised to seek more than the $3.6 billion it raised in 2016 for its second fund, the person said. It’s unclear what the firm’s final target will be, but rivals including I Squared Capital, Stonepeak Infrastructure Partners and KKR & Co. each raised $7 billion or more in recent months.