# Mairs & Power

Mairs & Power is a Private Equity based in St. Paul, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** St. Paul, United States
- **Region:** North America
- **Address:** St. Paul, MN, United States
- **Founded:** 1931
- **Assets under management:** Undisclosed
- **Website:** mairsandpower.com

## Regulatory record

- **CRD number:** 110351
- **SEC file number:** 801-2731
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/110351

## About

Mairs & Power is an SEC-registered investment adviser in St. Paul, MN, since 1961. The firm manages $12.1 billion in assets, $12.0 billion on a discretionary basis. It has 60 employees and 25 investment advisers, led by 8 principals.

## People

- Rob Mairs — CEO
- Justin Miller — Head of Individually Managed Accounts
- Hilary Sweeney — Client Advisor

## Questions

### Who runs investment decisions at Mairs & Power?

Rob Mairs serves as CEO, and the firm distributes portfolio-manager responsibilities across its fund lineup, with mutual-fund managers publishing quarterly commentary under their own names. The firm’s website identifies Justin Miller as Head of Individually Managed Accounts and Hilary Sweeney as a Client Advisor. The investment process is guided by independent research and conviction, but the firm does not publicly name a single CIO.

### Does Mairs & Power invest outside the Upper Midwest?

The firm states that it favors companies headquartered in Minnesota and the Upper Midwest. It does not explicitly exclude names outside the region, but its core thesis is that the geographic concentration surfaces companies with durable competitive advantages and excellent management teams. Portfolio holdings are concentrated around that conviction.

### How is Mairs & Power structured for retail versus institutional clients?

The firm serves both channels. For institutional investors — including Taft-Hartley plans, pension funds, foundations, endowments, and insurance companies — it offers individually managed accounts with the same long-term philosophy. Retail investors can access the three mutual funds, the Minnesota Municipal Bond ETF, and separately managed accounts.

### What is Mairs & Power’s approach to fixed income?

Fixed-income exposure is delivered through the Balanced Fund and the standalone Minnesota Municipal Bond ETF. The Balanced Fund combines equity and fixed-income positions in a single vehicle, while the ETF concentrates on Minnesota municipal bonds, aligning the credit selection with the firm’s geographic preference.

## Related profiles

- [Mahogany Fund Management](https://altss.com/profile/mahogany-fund-management)
- [Makana Ventures](https://altss.com/profile/makana-ventures)

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Last updated: 2026-06-03T20:00:00.000Z

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