Finding success in secondaries

Morgan Stanley’s Jacques Chappuis has found a niche strategy that makes its fund of-funds fees worthwhile

Jacques Chappuis of Morgan Stanley

Jacques Chappuis of Morgan Stanley

Jacques Chappuis of Morgan Stanley

Jacques Chappuis of Morgan Stanley

Jacques Chappuis (photographs by Michael Rubenstein)

Jacques Chappuis, who heads up Morgan Stanley’s Alternative Investment Partners, is adamant: “We haven’t cut our fees,” he says, in reference to the demand for lower fees from funds of funds ever since the crash of 2008.

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