China Investment Corp (CIC), the country’s US$200 billion sovereign wealth fund, has committed US$800 million in a new US$6 billion global real estate fund to be managed by Morgan Stanley, Reuters reported. The Morgan Stanley Real Estate Fund VII Global, the latest in the Wall Street bank’s series of international property investment funds, began raising money from institutional investors in early 2008. It had an initial goal of US$10 billion, but according to sources it fell short of the goal, only raising US$6 billion. CIC is one of the earliest institutional investors to make a capital commitment to the Morgan Stanley fund, said the source, who declined to be identified.
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