Neha Champaneria Markle, managing director, will take over as head of Morgan Stanley Investment Management's Alternative Investment Partners private markets solutions unit in January.
She will retain her role as portfolio manager on the AIP private markets team, which manages primary fund investing, co-investment and impact-oriented strategies, confirmed Lauren Bellmare, a Morgan Stanley spokeswoman, in an email.
Ms. Markle will replace John Wolak, managing director, head of the AIP private markets unit and co-head of the unit's private equity secondaries team.
Ms. Bellmare said in her email that Mr. Wolak has been planning "a gradual transition of business leadership. Stepping down from day-to-day managerial responsibilities is the first step in the transition."
Mr. Wolak joined Morgan Stanley in 2002.
He will remain a full-time employee and will continue to report to David Miller, MSIM's head of private credit and equity, as a senior adviser, Ms. Bellmare said.
Nash Waterman, a managing director and portfolio manager who co-headed the unit's private secondaries team with Mr. Wollack, will assume the new role of head of AIP private equity secondaries, Ms. Bellmare said.
Ms. Markle and Mr. Waterman both will report to Mr. Miller.
The Alternative Investment Partners' unit is part of MSIM's private credit and equity business, which manages $17 billion for institutional and high-net-worth individuals, Ms. Bellmare said.
Morgan Stanley managed a total of $715 billion as of Sept. 30, according to its third-quarter earnings report.