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Mesa West Capital Raises $1.37 billion for Fifth Value-Add Real Estate Debt Fund
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Mesa West Capital announced raising approximately $1.37 billion for its Mesa West Real Estate Income Fund V, L.P., surpassing the initial $1.0 billion target. This fund, focused on value-add transitional commercial real estate loans, aims to create a diversified investment portfolio. Notable investors include public and private pension funds and insurance companies. Mesa West Capital emphasizes its strong market track record, especially through economic cycles, as a key factor in attracting investment.
The firm currently manages $62 billion in client assets under Morgan Stanley Investment Management.
Positive
Raised $1.37 billion for Mesa West Real Estate Income Fund V, exceeding initial target of $1.0 billion.
Strong investor interest, including public and private pension funds.
Mesa West's track record through various market cycles enhances investor confidence.
Negative
None.
LOS ANGELES--(BUSINESS WIRE)--
Mesa West Capital (“Mesa West”), the private U.S. real estate credit arm of Morgan Stanley Investment Management, today announced it has raised ~$1.37 billion for Mesa West Real Estate Income Fund V, L.P. (“Fund V” or the “Fund”), exceeding Mesa West’s original $1.0 billion fundraising target for the Fund. Fund V is the latest and largest in Mesa West’s closed-end value-add series, which was established in 2005, and is the first successor vehicle raised by Mesa West since joining Morgan Stanley Investment Management. Surpassing the $900 million in commitments raised for Mesa West Real Estate Income Fund IV, L.P., Fund V’s investors include a sophisticated group of domestic and international public and private pension funds, insurance companies and individual investors.
Fund V has been established to originate, purchase and manage loans secured by value-add / transitional commercial real estate assets throughout the United States, which has seen increased demand due to regulatory changes resulting from the Global Financial Crisis and the current volatility and dislocation in the capital and property markets. The Fund intends to create a diversified portfolio of investments designed to produce current income and attractive risk-adjusted returns.
“We are extremely pleased with the continued support and trust from both our long-standing partners as well as new investors in Fund V. In today’s environment, sophisticated investors are increasing their allocations to real estate credit with managers who have been tested through market cycles,” said Jeff Friedman, Principal of Mesa West. “Mesa West’s successful track record through multiple cycles, including through the Global Financial Crisis, has been a differentiator for the platform in continuing to organically grow our business over time.”
“The strong investor demand for this Fund underscores our continued focus on providing best-in-class private and listed real assets solutions across multiple equity and credit strategies to meet our clients’ objectives,” said John Klopp, Global Head of Real Assets for Morgan Stanley Investment Management. “The successful Fund V capital raise builds on the strength of our growing Real Assets platform, which currently manages $62 billion in client assets.”
About Mesa West Capital
Mesa West Capital is a leading commercial real estate debt fund manager and portfolio lender. With offices in Los Angeles, New York, Chicago and San Francisco, Mesa West has been one of the most active providers of commercial real estate debt since its founding in 2004. Mesa West provides non-recourse first mortgage loans for core, core-plus, value-add and transitional properties throughout the United States. Mesa West’s lending portfolio includes all major property types with loan sizes ranging from $20 million up to $400 million. Since inception, the firm has sourced and closed more than 400 transactions totaling over $26 billion.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,200 investment professionals around the world and $1.3 trillion in assets under management or supervision as of December 31, 2022. Morgan Stanley Investment Management strives to provide strong long-term investment performance, outstanding service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions, and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.
