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Morgan hires Metalmark, Allianz GPs

After three years at Morgan Stanley spin-out Metalmark, Eric Fry has been appointed partner at the investment bank’s new private equity arm. Meanwhile, Morgan Stanley Private Equity’s London team has hired former Allianz Capital pro Michael Hehn.

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Morgan Stanley’s private equity come back has been strengthened with key hires for its New York and London teams, as the division raises a $6 billion (€4 billion) “debut” fund.

Morgan Stanley Private Equity has confirmed its August hire of Eric Fry, which was reported by PEO earlier this month. Fry worked at Morgan Stanley Capital Partners from 1991 until its 2004 spin-out into Metalmark Capital, where he was a managing director until rejoining Morgan Stanley.

The firm has also hired as a partner for its London team Michael Hehn, most recently a director and member of the executive committee at Allianz Capital Partners in Munich, Germany, where he focused on Western European investments. Hehn also worked at Merrill Lynch’s Mercury Private Equity, now HgCapital, and The Boston Consulting Group. He begins his new role at Morgan Stanley in December.

“Eric and Michael are excellent additions to our team,” Alan Jones, managing director and co-head of Morgan Stanley Private Equity, said in a statement. “They both bring a depth of private equity experience that will prove invaluable as we build a world-class private equity investing platform.”

Morgan Stanley Private Equity is led by Jones, who was promoted internally, and by Steve Trevor, who was recruited from Goldman Sachs last year.

The private equity group is part of the merchant banking division Morgan organised earlier this year. Led by Trevor and Jay Mantz, the division consists of private equity, infrastructure and real estate funds.