Asset management company the TCW Group has acquired Los Angeles private equity firm Craton Equity Partners.
Craton invests in companies that it deems socially responsible. The firm was found in 2006 and provides private equity capital to venture-backed companies in the sustainability, resource efficiency and carbon-reducing technology sectors. The firm has $241.5 million in assets under management. Craton’s investments include Sungevity, RecycleBank and Gazelle. Terms of the transaction were not disclosed.