Monday, September 30, 2013
Craton Equity Partners Acquired By TCW Group
Los Angeles-based socially responsible investment company Craton Equity Partners has been acquired by another, Los Angeles investment company, The TCW Group, TCW announced today. Financial details of the deal were not disclosed. Craton Equity Partners had $241.5M in assets under management, and was focused on providing growth capital to venture-backed companies within the sustainability, resource efficiency and carbon-reducing technology sectors. TCW said that Craton's managing partners, Bob MacDonald and Tom Soto will become managing partners at the new, combined firm, with Kevin Wall becoming senior advisor and David Asarnow becoming senior vice president and director of investments. Craton's investments have included such companies as Flywheel, Sungevity, Propel Biofuels, RecycleBank, Gazelle, and others.