After leaving UBS, the next day Moelis started his own boutique named Moelis & Co. Holdings LLC based in Los Angeles. Moelis quit UBS on June 30 as head of investment banking.
In September, the firm held a $1.8 billion first close on its private equity fund, which is intended to be co-invested with the bank's clients. At the time, sources told The Deal's Luisa Beltran that the firm had 30 investment bankers with plans to hire more.
While the firm does have offices in New York and Boston, as DealBook notes, $11 million is a lot of money for a crash pad or occasional residence. Perhaps the new firm is preparing to ramp up operations in New York. — Matthew Wurtzel
The former president of UBS' investment bank, Kenneth Moelis, paid $11 million for a new "crash" pad at New York's fabled Plaza, city records show. 
