Thoma Bravo LLC is investing in investment management firm Segall Bryant & Hamill

Segall, headquartered in Chicago, is an employee-owned firm that has more than $9 billion in assets under management. The firm is led by CEO Philip Hildenbrandt (pictured). Terms of the deal were not disclosed.

Dougherty Financial Group, a Minneapolis-based financial services firm, will no longer hold a stake in Segall after the deal closes.

The investor is a private equity firm with more than $4 billion in equity commitments. Recently, Thoma Bravo acquired Empirix Inc., a mobile network testing provider, and Keynote Systems Inc., which provides cloud-based tools for testing mobile applications and websites. 

Chicago-based Thoma Bravo is just one of several companies investing in asset management firms. In November, NewSpring Holdings LLC announced a deal for Wealthcare Capital Management Inc., and in September New York Life Investments agreed to buy Dexia Asset Management

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