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After partnering on two projects, investment firm Hunt Cos. liked what it saw and acquired Atlanta-based development firm Carter. 

Hunt Cos. — an El Paso, Texas-based holding company with a broad portfolio of holdings, including in construction, single-family rentals, infrastructure and minor league baseball — secured a majority stake in Carter by buying out Bob Peterson, the firm’s longtime CEO. 

Peterson is retiring as part of the deal, and Scott Taylor, a senior executive with more than 20 years at Carter who had also been acting as CEO, will take over day-to-day operations. Financial details or the size of Hunt’s stake were not disclosed.