Morgan Stanley AIP names Jonathan Costello managing director in secondaries team

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Asset manager Morgan Stanley Alternative Investment Partners has named Jonathan Costello as a managing director, based in the firm’s Philadelphia office.

Costello, formerly an executive director, is a portfolio manager for the firm’s private equity fund group, with a specific focus on secondaries.

Last year the firm gathered $770m for its latest secondaries fund, exceeding its initial $600m target. The firm target “off-market” secondary opportunities across the private equity spectrum, with an emphasis on small- and mid-cap buyouts and special situations funds. The vehicle is the successor fund to AIP’s 2009 vintage secondary fund, Morgan Stanley Global Secondary Opportunities Fund I, which raised $585m and completed its investment programme in 2012.

Prior to joining the firm, Costello worked at Susquehanna International Group, where he was responsible for secondary private equity investments, including investment strategy, business development, transaction management and portfolio construction.

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