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Morgan Stanley Investment Management Raises JPY131 Billion for North Haven Real Estate Japan Strategy Fund I
NEW YORK, September 08, 2025--Morgan Stanley Real Estate Investing (MSREI), the private real estate investment arm of Morgan Stanley Investment Management (MSIM), today announced it has held the final close and raised JPY131 billion (approximately US$900 million) for its inaugural North Haven Real Estate Japan Strategy Fund I (JSF or the Fund), exceeding the original fundraising target of JPY 75 billion (approximately US$500 million). The majority of the JSF investor base is comprised of Japanes
About this update from Morgan Stanley
[{"type":"text","content":"NEW YORK, September 08, 2025--(BUSINESS WIRE)--Morgan Stanley Real Estate Investing (MSREI), the private real estate investment arm of Morgan Stanley Investment Management (MSIM), today announced it has held the final close and raised JPY131 billion (approximately US$900 million) for its inaugural North Haven Real Estate Japan Strategy Fund I (JSF or the Fund), exceeding the original fundraising target of JPY 75 billion (approximately US$500 million). The majority of the JSF investor base is comprised of Japanese pension funds and financial institutions, paired with foreign sovereign wealth funds.","length":604,"tagName":"p"},{"type":"text","content":"JSF, a Japanese Yen-denominated closed-end fund, will seek to invest in assets that benefit from Japan’s structural tailwinds, including domestic urbanization and international migration, relatively high return to office rates plus growing office employment, and strong e-commerce and supply chain reconfiguration, which will support the residential, office and industrial real estate sectors, respectively. The Fund will focus on properties within these sectors in Tokyo, Osaka, and other major markets across Japan with the objective of producing attractive risk-adjusted returns using prudent leverage. JSF completed its first acquisition in March 2025, and to date has committed approximately 8% of the Fund across several residential investments.","length":751,"tagName":"p"},{"type":"text","content":"Commenting on JSF’s strategy, Yu Kawamata, Co-Head of MSREI Asia Investments and Head of MSREI Japan, said: "Japan has a positive macroeconomic outlook driven by inflation and wage growth, regulatory changes shifting corporate behavior towards efficiency, and attractive yield spreads with favorable financing terms. Against this backdrop, real estate fundamentals continue to improve, particularly for sectors supported by long-term structural tailwinds. With 25+ years of investing experience in Japan, we believe MSREI is well positioned to leverage its in-depth local market knowledge and strong access to opportunities through long-standing relationships to successfully invest JSF on behalf of investors."","length":721,"tagName":"p"},{"type":"text","content":""We are extremely pleased with the strong investor support for JSF both from existing and new investors who recognize and...