General Atlantic to Buy a Stake in $50 Billion Partners Capital

General Atlantic agreed to buy a stake in Partners Capital, a $50 billion asset manager that focuses on outsourcing investments for institutions including family offices, foundations and endowments.

The private equity firm is buying a minority interest from existing investors including entities tied to Lord Jacob Rothschild and Sir Ronald Cohen, a co-founder of Apax Partners, who are both staying on as shareholders, Partners Chief Executive Officer Arjun Raghavan said in an interview.

Founding executives of the firm will also be selling equity, though no one is unloading their stakes entirely, he said.

Partners Capital will operate independently from ...