American Century Begins Private Investing Services Following Acquisition

Posted September 11, 2023

Kansas City-based American Century Investments’ acquisition with Portland, Oregon-based 3×5 Partners has been finalized and with it comes American Century’s entry into private markets.

American Century announced in June that it would acquire 3×5 Partners as well as its interest in private investing services.

Nicholas Walrod, Tony Arnerich and Joe Biller, managing partners at 3×5 Partners, will now lead new private investment capabilities at American Century and report to chief investment officer Victor Zhang, according to a release.

The private investing team will continue to operate out of Portland, Oregon.

“It’s our mission to serve the needs of our clients,” Zhang said in a release. “As they increasingly allocate to private markets, we are delighted with the completion of this transaction. We will soon be able to further meet client demand, particularly in the areas of early-stage growth investing around health care and climate.”

3×5 Partners’ team has had experience in more than $500 million in the health care and climate solutions sectors. American Century believes its new private investment capabilities will interest global institutional clients and clients of high-net-worth financial professionals.

“We’re pleased to join American Century,” Walrod said. “Our expertise in collaborating with passionate entrepreneurs who are developing solutions in response to global healthcare and climate needs dovetails with the firm’s commitment to doing well while doing good. We believe this will be a great fit as we continue our work.”

View the full news release, here.