Morgan Stanley Investment Management is strengthening its alternative investments business with the addition of real estate veteran Joseph Strecher and an expansion into real-estate funds of funds.

Strecher has been named chief investment officer of real-estate funds of funds at Morgan Stanley Alternative Investment Partners, where he will head identification, selection and management of its real-estate funds. In addition, Stuart Bohart, co-head of MSIM, promised to support the real-estate fund of funds business with a capita injection, and dedicated investing and distribution teams.

“Real estate complements Morgan Stanley AIP’s client offerings in high alpha private equity and hedge funds, all of which have low correlation to other classes,” Bohart said. “Morgan Stanley’s real estate expertise is extensive and I am confident that Joseph’s background in this field and his keen understanding of the markets globally will make him a strong investment officer as we expand our real estate offering to include funds of funds.”

Strecher joins MSIM from Goldman Sachs, where he managed real-estate funds of funds. He also spent 15 years at General Motors Asset Management, where he managed $1.5 billion in private equity real estate assets.