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Morgan Stanley grows private credit platform, hiring David Kulakofsky from Madison Capital  

Kulakofsky, who will remain based out of Chicago, most recently led the software & technology services team at Madison Capital. 

Morgan Stanley Investment Management is building out its direct lending team in the wake of the economic downturn. 

David Kulakofsky joined the firm as a member of the investment committee and a managing director within the firm’s Private Credit & Equity platform, according to an internal memo obtained by PE Hub

Kulakofsky will be involved in all facets of the firm’s direct lending business, covering middle-market private firms, said the memo, distributed by David Miller, head of Private Credit & Equity and a member of the management committee at Morgan Stanley Investment Management.

Kulakofsky will be based in the firm’s Chicago offices and will report to Jeff Levin, managing director and head of the firm’s direct lending platform. Levin rejoined Morgan Stanley in 2019 from Carlyle Group, where he was a partner and president of the firm’s BDCs.

Kulakofsky brings more than 20 years of direct lending experience to Morgan Stanley. He most recently worked as a managing director and member of the investment committee at Madison Capital, a middle-market-focused lender to private equity sponsors. 

Over the last four years he served as the head of Madison’s software & technology services team and a member of Madison’s investment committee. Kulakofsky kicked off his career as a member of RW Baird’s investment banking group. 

Action item: Check out PE Hub’s recent interview with Aaron Sack, head of Morgan Stanley Capital Partners, for insights on the private equity arm’s strategy amid the crisis.