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John Wolak to step back at Morgan Stanley as part of planned succession

Neha Champaneria Markle will oversee the group that focuses on primary fund investing, co-investing and impact-oriented strategies.

Neha Champaneria Markle will take over as head of Morgan Stanley’s AIP Private Markets Solutions group, as current chief John Wolak steps into a senior advisor role, according to an internal memo seen by Buyouts.

Champaneria Markle will oversee the group that focuses on primary fund investing, co-investing and impact-oriented strategies. Nash Waterman, meanwhile, will become sole head of AIP Private Equity Secondaries team.

Champaneria Markle and Waterman will both report to David Miller, head of private credit & equity for Morgan Stanley.

Wolak will remain a full-time employee and will remain on the investment committee and stay engaged with AIP Private Markets’ investment programs. He had been planning to transition out of day-to-day leadership for some time and this is the first step, the memo said.

Wolak joined Morgan Stanley in 2002, before which he worked in private markets at DuPont Capital Management from 1995 to 2002, according to his LinkedIn profile.

Champaneria Markle worked at Apax Partners and Springboard Enterprises before joining Morgan Stanley in 2006, according to her LinkedIn profile. Waterman joined Morgan Stanley in 2002.