Navigator Global Investments (ASX:NGI) said it will acquire a 23.5% stake in US-based private equity firm 1315 Capital, for up to $70.5 million, according to a Monday filing with the Australian bourse.

Of the total consideration, $27.5 million is deferred and contingent on performance targets, the filing said.

The investment will not affect 1315 Capital's operations or decision-making processes and will be funded from NGI's existing resources, the filing added.

Frank, Harris, Shriver & Jacobson acted as NGI's legal counsel for the deal.