Morgan Stanley Private Markets ELTIF: 2026 Portfolio Update

Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), announced today the acquisition of a newly developed, 1.5 million-square-foot distribution facility in Kansas City, Missouri, for $158.5 million.

This paper argues that the "Great Grid Upgrade" will be driven not only by building new grid infrastructure but by deploying a ‘toolkit’ of commercially-proven, mature technologies that improve grid flexibility, capacity, stability, and visibility. Deploying and integrating these solutions, will better allow operators to continue to deliver affordable power reliably in a market experiencing broad-based demand growth for the first time in a generation.

A shift is occurring toward a higher nominal growth environment, evolving Fed communication strategies, and implications for both bond and equity markets. Volatility may rise as a result, we discuss how we are managing our asset allocation in this new regime.

A narrow AI-driven rally is reshaping global markets, with a small group of stocks accounting for a growing share of returns. While supported by strong earnings, this concentration raises questions about sustainability and valuation. What does this mean for long-term investors? The International Equity Team explores the risks of crowding, the durability of AI-driven profits and the opportunities emerging beyond the current market leaders.