Global alternative asset manager The Carlyle Group (NASDAQ:CG), today announced that Jacques Chappuis will join the firm as Managing Director and Head of the Solutions business segment, where he will lead the growth and development of the business. Mr. Chappuis comes to Carlyle from Morgan Stanley, where he serves as President of Alternative Investments Partners (AIP). He begins his duties in May and will be based in New York.
David M. Rubenstein, Carlyle Co-Chief Executive Officer, said, “Jacques has an extraordinary track record of innovation in the development and delivery of products and services that meet and anticipate investor needs. We are delighted that he will bring his experience and energy to take our Solutions business to a new level of success.”
Solutions is one of Carlyle’ four business segments; the others are Corporate Private Equity, Real Assets and Global Market Strategies. In this new role, Mr. Chappuis will build upon the strong foundation created by AlpInvest, the Dutch private equity fund-of-funds manager, which Carlyle first partnered with in 2011. Mr. Chappuis and the Solutions team will consolidate existing Carlyle products and create new ones, including: Customized Managed Accounts, Fund-of-Funds, Portfolio Advisory and Risk Management Services, outcome-oriented products and other new initiatives that facilitate third party access to Carlyle funds.
Mr. Chappuis said, “This is a rare and fantastic opportunity to build out a business within a premier global firm. Demand for investment product customization and specialization increases by the day and I am eager to harness the power of the Carlyle brand and team to develop and innovate for Carlyle’s investors.”
As President of AIP, Mr. Chappuis led a team of 220 people in a global fund of funds business with $29 billion across hedge funds, private equity, real estate and multi-asset class solutions. He transformed AIP from a traditional fund of funds to an alternative investments solutions business that accounted for 80 percent of asset growth. Prior to becoming President in 2009, Mr. Chappuis was Head of Alternative Investments at both Morgan Stanley and Citigroup’s wealth management organizations.