In finance, accounts belonged to companies from Goldman Sachs to JPMorgan to Citigroup toMorgan Stanley, along withdozens ofventurecapitalandprivateequityfirms.
Having the vantage point of leading MorganStanley but also being removed from the center of the financial ruin, perched at privateequity firm Continental Investors, Purcell shared lots of his insights on the markets with Steve Forbes.
Morgan Stanley's effort represents one of the first by a major Wall Street bank to challenge the private-equity giants that recently have dominated private fundraising in the real-estate world.