MSIM launches $4B infrastructure fund

Morgan Stanley Investment Management has raised $4 billion for a private-equity fund dedicated to infrastructure projects as part of a move to invest in sectors that haven’t been hit by the credit crunch. The Morgan Stanley Infrastructure Partners Fund has raised its capital in Asia, Australia, Europe, the Middle East and North America and plans to target investments in assets that provide public goods or essential services in sectors such as transportation, energy and utilities, social infrastructure and communications. The fund's investment team will work out of Beijing, Hong Kong, London and New York. Investors in the fund include major pension funds, insurance companies, high-net-worth individuals and employees of New York-based Morgan Stanley. “The current challenging market conditions are creating unique opportunities in the infrastructure sector, and we are benefiting from our global footprint that is generating a strong investment pipeline across the Americas, Europe and Asia,” Sadek Wahba, chief investment officer and global head of the fund, said in a statement. Morgan Stanley Investment Management had $577 billion in assets under management as of Feb. 28.