Stafford Capital Partners, a US-based alternative investment manager, has purchased $700 million funds management businesses of Australia’s Macquarie Group.
As part of the deal, Stafford Capital has acquired three units, which include investments in infrastructure, venture capital, private-equity and clean-tech funds, from Macquarie, reported The Wall Street Journal.
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The acquisition is expected to grow Stafford’s funds under management to $3.3 billion from $2.6 billion.
Following the deal, senior Macquarie staff, including managing director Rick Fratus, head of North American clean technology Kurt Faulhaber and head of European clean technology Ingo Marten, will join Stafford.
Stafford private equity chief executive Angus Whiteley said the deal will bring expertise in the areas of infrastructure, sustainable investments and venture capital.
The agreement with Stafford emphasizes Macquarie’s retreat from private equity funds management.
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