Morgan Stanley has confirmed that John Carrafiell is to step down next month from his position as co-head of real estate investing. Joint co-head Sonny Kalsi, who is based in New York, will take full leadership of the bank's real estate investment business which has over $90 bn (EUR 64.5 bn) of assets under management. Just over $60 bn (EUR 43 bn) of the assets are in Europe.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
