Morgan Stanley's fund of hedge funds chief is to leave the bank for the Carlyle Group.
Jacques Chappuis will leave Morgan Stanley in May to join Carlyle's Solutions group as a managing director. Solutions includes Carlyle's fund of funds business, Portfolio Advisory and Risk Management Services.
"Jacques has an extraordinary track record of innovation in the development and delivery of products and services that meet and anticipate investor needs," Carlyle co-CEO David Rubenstein said. "We are delighted that he will bring his experience and energy to take our solutions business to a new level of success."
Arthur Lev will succeed Chappuis at Morgan Stanley Alternative Investment Partners. Lev, a former partner at FrontPoint Partners. will continue to run Morgan Stanley Investment Management's long-only business.
Chappuis spent seven years at Morgan Stanley, after stints at Citigroup and Boston Consulting Group.