Lightyear Capital, a New York-based private equity firm, has hired Jerry Miller - who was formerly at Morgan Stanley Global Wealth Management - as a senior advisor, as the company targets the wealth management sector.

Miller joins from Van Kampen Investments, where he served as chief executive. Before leading Van Kampen, he was a division director at Morgan Stanley’s global wealth management group and a member of its executive and operating committees. Before Morgan Stanley, Miller was at Merrill Lynch with multiple leadership roles in its investment and wealth management businesses.

The private equity firm said it is looking to make more investments in both the asset and wealth management sectors.

“Jerry’s executive management experience and insights into the asset and wealth management sectors will add to the development of new investment opportunities as well as enhance our operational capabilities,” said Donald Marron, chairman of Lightyear Capital.

Lightyear has two portfolio companies in the asset and wealth management sectors: Cetera Financial Group, an independent broker-dealer serving around 7,000 independent financial advisors who oversee $100 billion of client assets, and Clarion Partners, a commercial real estate investment manager with about $24 billion of properties throughout the US on behalf of clients.