ICG hires Morgan Stanley's Jones to build U.S. private equity business

LONDON (Reuters) - Intermediate Capital Group said on Tuesday it had hired 25-year Morgan Stanley veteran Alan Jones to build a North American private equity business.

Jones, most recently Vice-Chairman of Private Credit & Equity at Morgan Stanley, will join as a Senior Managing Director and hire a team to target private equity investments in regional mid-market companies, ICG said in a statement.

"(Jones') considerable expertise in building and leading businesses, investing, fundraising, corporate finance, capital markets, governance, and risk management will be a significant asset to ICG," said ICG Chief Executive Benoit Durteste.

ICG manages $42.6 billion in assets across a range of private debt, credit and equity markets.

(Reporting by Simon Jessop, editing by Louise Heavens)