Carlyle nabs Morgan Stanley healthcare pro

Karen Bechtel, an investment banker and principal investor at Morgan Stanley for 28 years, has left to co-head Carlyle’s burgeoning global healthcare team.

The Carlyle Group today announced that Karen Bechtel will join the firm as a managing director and co-head of the firm’s global healthcare team.

Bechtel spent 28 years at Morgan Stanley, where she was an investment banker and principal investor.

Bechtel will be based in New York and work alongside healthcare co-head Robert Dahl.

Carlyle’s healthcare team is part of the US buyout group, currently investing from the firm’s fourth fund, which raised $7.85 billion earlier this year.

Currently, four percent of the fund’s investments are in the healthcare sector, a number which the firm says will grow. Previous Carlyle healthcare investments have included Align Technology, an orthodontic device maker; Connecticare, a heath maintenance business; Empi, another medical device maker; and MedPointe, a specialty pharmaceutical company.

Bechtel was a member the investment committee of Morgan Stanley’s private equity division, Morgan Stanley Capital Partners, which recently spun out of its parent company as Metalmark. Bechtel led that firm’s healthcare investments, according to the press release. From 1993 to 1997 Bechtel was co-head of the strategic finance group, where she covered financial buyers.

Carlyle now has roughly $30 billion under management.