Ron Lepin, chief operating officer of the $4 billion Morgan Stanley infrastructure fund, has left the firm.
A person at Morgan Stanley confirmed his departure and said he left about a month ago but declined to comment further.
Lepin joined Morgan Stanley in late 2006 from the Ontario Teachers Pension Plan (OTPP), a direct pension investor in infrastructure assets since 2001. Lepin built out OTPP’s infrastructure investment programme during his five years with the firm, according to old Morgan Stanley press releases.
While at Morgan Stanley, Lepin was involved in several notable transactions for the firm’s debut infrastructure fund. These included its 2008 acquisition of Chilean utility SAESA for $887 million, which Morgan Stanley Infrastructure bought in conjunction with OTPP, and its 2007 acquisition of an 80 percent stake in Montreal Gateway Terminals.
In related news, Morgan Stanley has also appointed a new head of Americas infrastructure investment banking. Perry Offutt, formerly the executive director of Morgan Stanley’s global power and utility group, replaces Rob Collins, who left Morgan Stanley in March to join boutique investment bank Greenhill.