Morgan Stanly veteran Dietrich Heidtmann has left the bank after more than 18 years to join Grosvenor as managing director of client services.
Heidtmann was most recently head of real estate private equity capital markets in Europe where one of his most recent successes was the raising of Paris-based AltareaCogedim’s €600 million club fund, in November.
In an emailed message to contacts, he said he was leaving Morgan Stanley to relocate from Frankfurt to Paris in order to join London-based Grosvenor where he will be responsible for functions in Europe, Asia and the Middle East. He starts his new role in the middle of February.
Grosvenor told PERE that their new hire would lead and grow the client services team.
Heidtmann joined Morgan Stanley in 1993 within its real estate banking team. His most recent role involved co-ordinating all real estate private capital raising activities with institutional investors for private equity real estate funds.
He said: “After more than 18 years with Morgan Stanley I am leaving at the end of the year to pursue a new professional opportunity. Thank you for all your friendship, trust and support – especially when times became difficult in the more recent years!”
His departure follows hot on the heels of another senior figure within the bank’s private equity real estate capital raising business.
In October, Robert Weaver, a 20-year stalwart of Morgan Stanley, left the bank to join TPG Capital, the buy-out giant that is currently in the throws of building a real estate investment business. In his most recent role he was responsible for the global coordination of Morgan Stanley’s private capital markets group, including the coverage of global institutional capital sources for all real estate investment banking services.