Alternative investment firm General Atlantic has agreed to acquire a minority stake in Partners Capital Investment Group, a global outsourced chief investment officer, said a Feb. 8 release.
Investment funds managed by General Atlantic will take this minority position by purchasing a portion of the equity currently held by Partners Capital's longstanding external shareholders and some of the founding generation partners.
A spokesperson for Partners Capital said terms of the transaction are not being disclosed.
This transaction will allow Partners Capital to "leverage General Atlantic's extensive global network and value-add capabilities as the firm cements its next generation of leadership," the release noted.
As a result of the transaction, Partners Capital's investment operations will operate independently of General Atlantic.
Gabriel Caillaux, co-president, managing director, and head of climate and EMEA, and Caroline Woodworth, managing director at General Atlantic, jointly stated in the release they believe the outsourced investment office market "is one of the most attractive segments in asset management."
Closing of the transaction is subject to certain regulatory conditions and client consents.
Founded in 2001, Partners Capital acts for institutional and private clients, including endowments and foundations across the U.S., Europe and Asia. Partners Capital has more than $50 billion in assets under management.
General Atlantic had approximately $83 billion in assets under management as of Dec. 31.