Morgan Stanley’s Bohart Joins Fortress

Aug 5 2010 | 12:08pm ET

Stuart Bohart, the former head of Morgan Stanley’s asset management business, has joined Fortress Investment Group as head of its liquid markets business.

Bohart left Morgan Stanley last month, four months after losing the top job at Morgan Stanley Investment Management to Gregory Fleming. Since February, he has overseen about $230 billion of MSIM’s $260 billion in assets, including its hedge funds and private equity funds.

At Fortress, Bohart serves as president of liquid markets and senior management director of strategy, and will sit on both Fortress’ operating and management activities. As head of its liquid markets business, Bohart will oversee all non-investment activities.

Bohart’s hire will allow Michael Novogratz, Adam Levinson and William Callanan to focus exclusively on investments, Fortress CEO Daniel Mudd said. Novogratz and Levinson are co-chief investment officers of the firm’s macro funds, while Callanan is CIO of its commodity funds.

“Stu brings a unique depth of experience to our organization, having built and managed one of the industry's largest alternatives platforms, and his addition to our leadership team will allow us to achieve two important objectives,” Mudd said.

Bohart formerly headed Morgan Stanley’s prime brokerage business and also worked as a portfolio manager at hedge fund FrontPoint Partners, which is now a wholly-owned subsidiary of Morgan Stanley.

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