“Morgan Stanley (MS), 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.
Matt Burkhard, a spokesman for Morgan Stanley, declined to comment on fundraising….”
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