Investment bank Morgan Joseph has opened a Boston office to serve New England’s alternative investments community.

The corporate finance office will be headed by Peter Olaynack, managing director, co-head of the financial sponsors group, and, the firm happily points out, a Rhode Island native and die-hard Boston Red Sox fan. His group specializes in M&A, developing proprietary investment opportunities and management and board recruitment.

“With Peter heading our efforts in Boston, a market we consider underserved in terms of investment banking representation, we are confident that we can provide a wide range of services to the local private equity community as well as smaller public and family-owned private companies,” Roger Briggs, vice chairman of the New York-based firm, said.

“The surge in hedge funds and private equity investment has created a great need for financial sponsors to differentiate themselves and, in this era of abundant capital, consider capital-raising alternatives,” Olaynack added. “Boston and the surrounding communities have abundant needs, which our firm’s broad experience and independence can help meet.”