Z2 will make direct investments in mostly private companies with a targeted investment size between $10 million and $100 million per company.
He has co-managed the firm’s small-cap value fund since 2019.
The transaction received shareholder approval on Aug. 3.
They will build out Advent’s consumer technology practice.
He joins the wealth management firm from Russell Investments.
One factor hindering ESG’s adoption is the lack of ESG-focused target-date funds, though several firms are starting to introduce them.
The dual outcomes of saving the world and generating excess returns has been made harder to deliver because of ESG scoring in emerging markets a senior Aegon portfolio manager has said.
The transaction is expected to close in the first quarter of 2023.
PPA represents CAPTRUST’s 59th acquisition since 2006.
The firm has hired two senior associates for the investment team and an investor relations associate.