Morgan Stanley is close to completing fundraising for an $8bn real estate investment fund, its largest to date. Financial Times

MSREF 6 is a non-US global fund, 40% of which will be invested in Japan. When combined with borrowings, the fund’s capital is expected to double to $16bn.

The fund is expected to close as early as next month following strong demand from mostly non-Japanese investors.

MSREF 5, its previous fund, was the biggest at $4.2bn when it closed in March last year.