American Century Will Acquire Venture Capital Firm 3×5 Partners

Kansas City-based American Century Investments announced it will acquire the impact venture capital team 3×5 Partners, leading the investment service into private markets.

The transaction with 3×5 Partners is expected to be completed in Q3 this year, according to a press release. Based in Portland, Oregon, 3×5 Partners’ managing partners Nicholas Walrod, Tony Arnerich and Joe Biller will lead the new private impact investment team for American Century.

“We are always thinking about how we can best serve clients and looking for innovative solutions to their investment needs,” president and CEO of American Century Jonathan Thomas said in a press release. “In adding the 3×5 Partners team, we will grow our capabilities for our clients across the globe who are increasingly allocating to private markets, allowing us to be a more complete asset manager for our clients.”

Collectively, the team has ten years of experience in private impact investments and more than $500 million in the healthcare and climate solutions sectors. The team will report directly to American Century’s chief investment officer Victor Zhang.

American Century expects its new private market investment capabilities will benefit the interest of its global institutional clients and clients of high-net-worth financial professionals.

Read the full press release, here.

Posted June 29, 2023.