Rod James
Neil Harper, who has been at Morgan Stanley Alternative Investment Partners since 2006 and oversees its secondaries business, is the unit's second senior departure in six months.
The spin-out of 55 people, 35 companies across three continents and the need to juggle the interests of several LPs that happen to be secondaries firms: the deal shows just how far things have come.
The preferred equity specialist has raised almost $1bn for Whitehorse Liquidity Partners III, which launched in November.
Declining return expectations, longer deferrals and market volatility are among the factors shaping today's market.
The firm entered the real estate secondaries market in 2017, bringing in Deutsche Bank's Scott Koenig to lead the build-out.
The Carlyle Group unit is understood to be among buyers involved in the GP-led process on Oaktree Principal Fund V.
The $3.5bn ACOF III fund is understood to have nine assets remaining, including the US luxury department store.
Daniel Quinn and Aleksander Bakic are joining the firm's London office from O'Melveny & Myers.
The firm founded by former AlpInvest Partners exec Tjarko Hektor has beat the $250m target of its fund that will focus on the US small- and mid-market.
The high-growth specialist is in early stage discussions about offering liquidity to investors in the €925m vehicle.