Morgan Stanley Infrastructure Partners (MSIP), the infrastructure arm of the US investment bank, has lost one of its top Asian executives.
Deven Karnik, a Hong Kong-based managing director responsible for MSIP's Asian investments, has left Morgan Stanley.
A spokesman for Morgan Stanley confirmed Karnik's departure, but did not wish to comment further, including on whether the executive will be replaced or not.
As recently reported, Infrastructure Investor has learnt that Morgan Stanley is gearing up to raise a second infrastructure fund, known as Morgan Stanley Infrastructure Partners II (MSIP II).
A person familiar with the fundraising confirmed MSIP II has a $2.5 billion fundraising target, noting Morgan Stanley is not using an external placement agent.
Morgan Stanley already manages a $4 billion infrastructure fund.
In 2012, Adil Rahmathulla, executive director for America, and Gauntam Bhandari, a managing director for Asia, left MSIP.
A year prior, MSIP lost global head of infrastructure Sadek Wahba, and Vincent Policard, an investment professional focused on Europe.