(PrivateEquityCentral.net) New York-based investment bank Lehman Brothers has announced that David Morse has joined the firm’s merchant banking division as managing director.
Morse will source, execute and manage private equity investments, according to a press release.
Morse joined the firm from Hampshire Equity Partners, where he was a founding partner. While there, he completed 13 investments in a variety of industries. Prior to Hampshire, he spent time at GE Capital and Chemical Bank.
“David’s extensive knowledge of the private equity sector augments the strength and experience of our merchant banking team,” Charles Ayres, global head of merchant banking, said in the statement. “Bringing someone on board of David’s calibre underscores Lehman Brothers’ commitment to providing the highest quality of investment management experience to the firm’s institutional and individual investing clients.”
Ayres became the head of merchant banking in April, when he joined the firm from MidOcean Capital Partners.
Lehman Brothers’ merchant banking division has invested a total of $2.7bn in 27 companies since 1986. The division is part of Lehman Brothers’ larger private equity division, which includes venture capital, real estate, third-party funds, and fixed-income-related funds. Lehman Brothers’ private equity division currently manages $5bn of capital.