Carlyle adds solutions business head
By Arleen Jacobius | February 25, 2013 3:55 pm
Jacques Chappuis will join The Carlyle Group in May as managing director and head of Carlyle's solutions business segment, confirmed Elizabeth Gill in an e-mail.
Mr. Chappuis will lead the growth of the unit, consolidating existing Carlyle investment strategies and creating new ones, including customized managed accounts, funds of funds and portfolio advisory and risk management services.
The move builds on a business started in 2011 when Carlyle bought Dutch private equity funds-of-funds manager AlpInvest in a management buyout, splitting it off from pension funds APG and PGGM.
Mr. Chappuis was president of Morgan Stanley (MS) Alternative Investment Partners, a unit of Morgan Stanley Investment Management Arthur Lev, who is currently managing director and head of MSIM's $182 billion long-only business — that includes equity, fixed income and asset allocation strategies — will take on Mr. Chappuis' duties, according to an internal company memo from Gregory Fleming, president of MSIM, obtained by Pensions & Investments.
This will be an expansion of Mr. Lev's duties. Alternative Investment Partners has $29 billion under management in private equity, hedge funds and real estate funds of funds. Matt Burkhard, Morgan Stanley spokesman, confirmed the contents of the internal memo.