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US Morgenthaler hires former General Electric executives

US middle-market private equity firm Morgenthaler Partners has announced the recruitment of Al Stanley and Daniel Farrar. Both Stanley and Farrar join the firm from General Electric and will work in the firm's buy-out division.

Stanley was previously the president and chief executive officer of General Electric's Global Life and Health Reinsurance division and served as president and chief executive of the company's Mexican operations prior to that. Farrar most recently served as president and chief executive of General Electric Fleet Services for all of Europe.

Morgenthaler Partners was founded in 1968 and has a buy-out business in Ohio as well as a venture capital group based in Menlo Park. The firm manages a total of $2bn in capital and closed its most recent fund, aimed at both buy-out and venture investments, with $850m of commitments in 2001.

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