Morgan Stanley has appointed Brian Magnus to co-head a new $6 billion European private equity fund.
Mr Magus will share stewardship of the Morgan Stanley Private Equity (MPSE) fund with Graham Keniston-Cooper. News of Mr Magus’ appointment comes as speculation grows that the private equity sector is in decline, with a number of banks beginning to refuse to finance deals, The Times reports.
However, according to Mr Magnus the downturn in the sector represents a blip rather than evidence of a sustained decline.
“The private equity trend is not going away,” says Mr Magnus. “It may be temporarily in remission, but long-term it is only going to get bigger.”