Estancia Capital Partners LP has acquired a minority stake in Sustainable Growth Advisers LP.

Sustainable Growth is a Stamford, Conn.-based equity manager that has about $5.3 billion in assets under management on behalf of institutional, intermediary and retirement plan clients.

Terms of Estancia’s investment were not disclosed.

Estancia, headquartered in Scottsdale, Ariz., focuses on lower middle-market investments in asset management and wealth management companies. The company is currently investing from its first fund, Estancia Capital Partners LP. The firm has also invested in Spruce Private Investors LLC, in October 2012, and Equinoxe Alternative Investment Services, in August.

In other recent wealth manager buys, Banyan Partners LLC, in August, picked up Rushmore Investment Advisors and Holt-Smith Advisors. 

Financial services industry