Wilshire hires Morgan Stanley veteran

Karl Beinkampen, a 15-year veteran of Morgan Stanley, will replace Jeff Ennis as CIO.

Wilshire Private Markets has hired Morgan Stanley veteran Karl Beinkampen as chief investment officer, replacing Jeff Ennis who left the firm in March.

Ennis left the Los Angeles-based firm amid a rash of departures that began after the hiring of Kevin Nee as president of the private equity division in 2008.

Beinkampen left Morgan Stanley’s private equity fund of funds team last August for undisclosed reasons. He had been with the bank since 1994. He began working with LBO sponsors in 1995, leading equity, fixed income and acquisition finance deals.

In 2000, Beinkampen was picked to build Morgan Stanley’s private equity fund of funds business.

Wilshire suspended fundraising at the time of Ennis’ departure. The firm expected to hit the market with a fund in the second half of 2010, but decided to push that back into 2011 to “rebuild their investment team”, according to documents from the UK-based Suffolk County pension, an investor with Wilshire.

Wilshire has five offices in the US, Europe, Asia and Australia, and manages nearly $6 billion.