Partners Capital Investment Group (a global Outsourced Investment Office) announced a minority investment from General Atlantic. The investment funds managed by General Atlantic are establishing this minority position by buying a portion of the equity currently held by Partners Capital’s longstanding external shareholders and some of the founding generation partners.
As part of this deal, the current leadership team at Partners Capital will see a step change increase in their ownership of the firm that will help to lock in senior talent, with the ability for future leaders to build meaningful ownership in the firm over time. And Partners Capital’s investment operations will operate independently of General Atlantic.
Established in 2001, Partners Capital is an Outsourced Investment Office acting for institutional and private clients. And the firm’s client base includes distinguished endowments and foundations across the U.S., Europe and Asia, with their missions focused on education, healthcare and the arts. Partners Capital’s private client base includes prominent ultra-high net worth families and senior members of investment firms for whom the firm manages the family endowment.
With over $50 billion in assets under management, Partners Capital constructs tailored investment portfolios for its clients, leveraging its deep network of partnerships with what it believes to be leading asset managers across all major asset classes. And the firm employs more than 350 people across its seven offices located in Boston, New York, London, San Francisco, Paris, Singapore and Hong Kong.
For over 20 years, the Partners Capital team developed state of the art portfolio construction based on proprietary intellectual property and established a deep set of asset manager partnerships. And this deal will enable Partners Capital to leverage General Atlantic’s extensive global network and value-add capabilities as the firm cements its next generation of leadership and continues to deliver investment excellence for its clients. General Atlantic’s patient capital model emphasizing long-term partnership is aligned with Partners Capital’s objective in building longstanding client relationships and deliver leading investment outcomes.
The closing of the transaction is subject to certain regulatory conditions and client consents. And Partners Capital was advised by Spencer House Partners, Macfarlanes and Ropes & Gray. General Atlantic was advised by Freshfields Bruckhaus Deringer and PwC.
KEY QUOTES:
“We have long respected General Atlantic as a leading global investment firm. The leadership group at Partners Capital have great conviction that General Atlantic will strengthen our firm for the next decade as we focus on deepening our investment capabilities, driving technology-led change across the firm and bolstering our ability to attract and retain top talent, the lifeblood of any investment firm. We believe this will put us in a better position to be an enduring institution that can continue to deliver outstanding investment results for our clients.”
– Arjun Raghavan, CEO of Partners Capital
“We believe the Outsourced Investment Office market is one of the most attractive segments in asset management. Within this, Partners Capital stands out for its premier client service, geographic breadth, track record of investment performance and scalable model. We are excited to add Partners Capital to our financial services portfolio and look forward to supporting Arjun and the team as they continue to build out their offering in key markets globally.”
– Gabriel Caillaux, Co-President, Managing Director, and Head of Climate and EMEA, and Caroline Woodworth, Managing Director, at General Atlantic
“The entire team at Partners Capital are truly excited by this development. We believe General Atlantic to be an excellent cultural fit for Partners Capital and very much look forward to this new chapter in Partners Capital’s evolution.”
– Stan Miranda, Co-Founder and Chairman of Partners Capital
