TCW Group Acquires Craton Equity

Sep 30 2013 | 12:36pm ET

The Los Angeles-based TCW Group has acquired a private equity firm that specializes in 'socially responsible investing.'

The terms of the deal that will see TCW take over Craton Equity Partners, also Los Angeles-based, were not revealed.

Founded in 2006, Craton provides growth capital to venture-backed companies within the sustainability, resource efficiency and carbon-reducing technology sectors. The firm has $241.5 million in assets under management and typically invests in companies with low-capital requirement business models that generally operate independent of any tax credits and government subsidies.

Craton managing partners Bob MacDonald and Tom Soto will become managing directors at TCW/Craton while Craton managing partner Kevin Wall becomes a senior advisor and Craton partner David Asarnow becomes a senior vice president and director of investments.

All the former Craton Equity partners will be on the investment committee for TCW/Craton, joined by Ravich and David Wang, director of alternatives at TCW. All TCW/Craton employees will be relocated to TCW’s Los Angeles office.

“The acquisition of Craton Equity further expands our alternative asset management platform at a time when institutional investors are increasingly issuing mandates for socially responsible investing,” said Jess M. Ravich, group managing director and head of alternative products at TCW, in a statement.

Founded in 1971, The TCW Group has over $130 billion in assets under management.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note