Street.Com – Morgan Stanley continues to build its alternative-investments group, tapping an executive from another key division to spearhead the firm’s push into hedge fundsand other areas of advanced portfolio management.
On Wednesday, Morgan Stanley named Stu Bohart, the former head of prime brokerage, to lead alternative investments within Morgan Stanley Investment Management. Bohart, who joined the firm in 1997 as a portfolio manager, will be responsible for all the strategic oversight in the alternative-investments group, including new hires and acquisition activity.
Bohart’s appointment is a key step in the evolution of the alternative-investment group, which became a stand-alone unit within Morgan Stanley Investment Management at the behest of President Owen Thomas in December. Bohart’s dense Rolodex within the hedge fund community will help Morgan Stanley as it seeks to hire and acquire its way into the upper echelon of the alternative universe.
