PRINT THIS PAGE Morgan Stanley spins out private equity group26/07/2004. Source: AltAssets. 
 Morgan Stanley Capital Partners has spun-out to form an independent private equity group. The new firm, to be called Metalmark Capital, will be led by Howard Hoffen, an 18-year private equity veteran and Morgan Stanley managing director.
Metalmark Capital will manage, through a long-term subadvisory role, the Morgan Stanley Capital Partners funds, comprising over $3bn of private equity investments.
Morgan Stanley will continue as general partner for the Capital Partners funds and will retain its limited partner interests. The subadvisory relationship is expected to become effective by early September.
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