Funds managed by Wafra Inc, the global alternative asset manager with a presence in Bermuda, have acquired a strategic minority ownership interest in Thompson Street Capital Partners.

Thompson Street is a leading middle-market private equity firm based in St Louis focused on investing in founder-led businesses in the healthcare, technology and business and consumer services sectors.

Wafra’s minority investment will support the scaling of the Thompson Street platform and the achievement of key strategic initiatives.

Control of Thompson Street’s investment processes, management and day-to-day operations will not be affected by this transaction. The terms have not been disclosed.

“We are delighted to partner with Wafra, a firm whose like-minded approach to partnership will support this new chapter as we seek to maximise value for our investors,” said Jim Cooper, a managing partner of Thompson Street.

Bob Dunn, also a managing partner of Thompson Street, added: “Thompson Street’s unique position as a leader in the middle market outside of coastal financial hubs will benefit from cross-pollination among Wafra’s network of global institutional investors. We believe there are significant potential areas of collaboration, and we look forward to a fruitful, long-term partnership with the Wafra team.”

Fawaz Al-Mubaraki, chief executive officer of Wafra, said: “We are pleased to partner with Thompson Street on its next phase of growth. This partnership continues Wafra’s strategy of investing in leading alternative asset management teams to enhance value and create long-term alignment.”

Lauren Rich, a managing director at Wafra, said: “Driven by a talented team of investment professionals, Thompson Street deploys a differentiated investment approach that has provided strong and consistent returns to investors for over two decades. We are excited to partner with them on this next chapter.”

Wafra is a global alternative asset manager with approximately $33 billion of assets under management.

Headquartered in New York, Wafra and its affiliates have additional offices in London, Kuwait and Bermuda.