| NEW YORK
NEW YORK Feb 25 The head of Morgan Stanley's
fund-of-hedge-funds business, Jacques Chappuis, will
leave the firm in May and join Carlyle Group LP as a
managing director, according to an internal memo from the bank
and a statement from Carlyle.
Chappuis is joining the Carlyle as managing director and
head of the solutions business division, according to a
statement released on Monday by the asset management firm.
Morgan Stanley sent a memo to staff on Monday informing them
that Chappuis was leaving in May and that Arthur Lev, who runs
Morgan Stanley Investment Management's (MSIM) Long-Only
business, will succeed him.
Lev will continue to head the long-only group alongside his
new duties for the fund-of-funds business, Alternative
Investment Partners (AIP), according to the memo, obtained by
Reuters. AIP has roughly $29 billion under management.
Lev has previously worked as chief strategy officer of MSIM
Traditional Asset Management, according the memo, sent by Greg
Fleming, head of Morgan Stanley's asset-management division.
Prior to 2007, Lev was a partner and general counsel of
hedge fund FrontPoint Partners, which completed a spin-off from
Morgan Stanley in March 2011.