Friday Letter Real estate goes 'mega'

The big subject on everyone’s mind this week was the mammoth $8-billion (€6 billion) real estate vehicle announced by Morgan Stanley, which is currently the largest private equity real estate fund ever raised. Morgan Stanley Real Estate Fund VI International, which will target assets in Western Europe, Japan, Australia and emerging markets, is far larger than the previous record holder, Blackstone Real Estate Partners V, which closed on $5.3 billion in 2006.

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