Global Infrastructure Partners Ltd (GIP), owner of London's Gatwick Airport and of pipelines formerly owned by Chesapeake Energy Corp, completed fundraising for its second infrastructure fund, raising $8.25 billion and making it the largest infrastructure fund globally to date. The fundraising is the latest sign that independent asset managers with a successful track record are tapping demand for infrastructure investments and exploiting the hurdles facing investment banks that must comply with new cumbersome regulations for such products, including Morgan Stanley."We are extremely gratified by the confidence that our investors in GIP II have placed in us. We believe that the well documented need for infrastructure investment across the globe will provide a very attractive investment environment for GIP II," GIP Chairman Adebayo Ogunlesi said in a statement.GIP II, GIP's second fund, is now bigger than Goldman Sachs Group Inc's first infrastructure fund, which raised $6.5 billion in 2006.One of GIP's investors, the Oregon Investment Council, said in September 2011 that GIP II was targeting gross returns of 15 to 20 percent and had a target of $5 billion. But GIP raised its fundraising target based on investor demand.
Chesapeake Energy Corporation (Chesapeake) is a natural gas and oil exploration and production company. Shares of CHK fell by 2.66% or $-0.52/share to $19.02. In the past year, the shares have traded as low as $13.32 and as high as $29.87. On average, 16769200 shares of CHK exchange hands on a given day and today's volume is recorded at 5718000.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.24% or $0.21/share to $17.12. In the past year, the shares have traded as low as $12.26 and as high as $21.19. On average, 22287100 shares of MS exchange hands on a given day and today's volume is recorded at 10433569.
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