Morgan Stanley closes $4bn fund

Morgan Stanley has announced the closing of a $4bn private equity fund dedicated to infrastructure projects. The fund far exceeded its initial $2.5bn target and is one of the largest infrastructure funds ever raised.

The infrastructure sector is increasingly attracting the interest of the private equity industry according to experts, as investors seek to move funds away from the credit crunch and the US economic slowdown.

The fund already owns stakes in Venice airport in Italy and the Port of Montreal in Canada.

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