Mairs & Power is pleased to announce that Kyle J. Bergacker, CFA, and Kerry L. Laurin, CPA, CFA, have joined the firm as investment professionals and will each take on Fund co-manager responsibilities, effective October 1, 2026. Bergacker joins as an Investment Manager and will become a co-manager of the Mairs & Power Small Cap Fund (MSCFX). Laurin joins as an Assistant Portfolio Manager on the firm's Fixed Income team and will become a co-manager of the Mairs & Power Minnesota Municipal Bond ETF (MINN).
Deepening the Small Cap Fund Team
Bergacker's addition further deepens the bench of the Small Cap Fund team, which is currently comprised of Michael (Mike) C. Marzolf, lead manager; Christopher (Chris) D. Strom, co-manager: Andrew (Andy) R. Adams, CIO and co-manager. Adding a fourth manager expands the team's equity research capacity and strengthens its ability to identify attractive investment opportunities with emerging companies.
Bergacker brings nearly 20 years of investment experience, most recently at RBC Wealth Management, where he served as a Senior Portfolio Manager responsible for separately managed and unified managed account strategies spanning Large Cap Value, All Cap Growth, and Global Equity. He also chaired the firm's investment committee. Previously, he was a Portfolio Manager with Gradient Investments and a Senior Research Analyst at Columbia Threadneedle, providing financial analysis and security recommendations across small cap, mid cap, and large cap strategies. Bergacker earned a Bachelor of Science in Applied Economics from the University of Minnesota, Twin Cities, and is a CFA charterholder.
“Adding Kyle is about resourcing this strategy for the long run,” said Marzolf, lead manager of the Small Cap Fund. “Another experienced manager means more companies covered, more ideas debated, and more capacity to do fundamental work this Fund is built on. We manage the Small Cap Fund as a team, and every resource we add to that team makes it stronger.”
Expanding the Fixed Income Bench
The same reasoning is at work on the fixed income side of the firm. Laurin bolsters the fixed income capabilities at Mairs & Power more broadly. She brings a wealth of credit experience along with portfolio management experience across both municipal and corporate bonds to help Mairs & Power clients. Her addition provides co-manager support for MINN, which is led by Brent S. Miller, the Fund’s lead manager since its inception in 2021.
Bringing more than 15 years of investment experience, Laurin joins the firm from Allspring Global Investments, formerly Wells Fargo Asset Management, where she spent a decade, most recently as Senior Credit Research Analyst and Associate Municipal Portfolio Manager. In that role she co-managed a group of municipal bond mutual funds and conducted fundamental credit analysis across government, power, industrial development, special tax, and non-profit sectors. Earlier in her career she was a Research Analyst at Heartland Advisors, where she managed investment-grade corporate fixed income portfolios and produced bottom-up equity and fixed income research. Laurin earned a Master of Science in Management, with a concentration in accounting, from the University of Wisconsin-Milwaukee, and a Bachelor of Arts in English Literature from Marquette University. She is a CFA charterholder and a Certified Public Accountant.
“Kerry brings a rare combination to our fixed income work: deep municipal credit research experience and the discipline of a CPA,” said Miller, lead manager of the Mairs & Power Minnesota Municipal Bond ETF. “Kerry complements our team with a rare combination of depth and breadth of experience across investment grade and high yield munis and corporates.
“She has spent years evaluating the kinds of issuers we own here in Minnesota. Her recent experience as part of the management team on a Minnesota municipal bond fund has proven beneficial from day one,” Miller added.
About Mairs & Power
Founded in 1931 and based in St. Paul, Mairs & Power is Minnesota's oldest investment firm under continuous private ownership and management. As of June 30, 2026, the firm manages over $12.5B in assets across individually managed accounts serving individuals and organizations, three mutual funds, the Mairs & Power Fund (MPGFX), the Mairs & Power Balanced Fund (MAPOX), and the Mairs & Power Small Cap Fund (MSCFX), an Exchange Traded Fund (ETF), the Mairs & Power Minnesota Municipal Bond ETF (MINN), and venture capital.
About the Mairs & Power Small Cap Fund
The Mairs & Power Small Cap Fund is in its 15th year as a no-load mutual fund, having launched on August 11, 2011. The Fund seeks above-average, long-term appreciation and focuses on small-cap companies with durable competitive advantages, looking first at those headquartered in Minnesota and the Upper Midwest. As of June 30, 2026, the Fund's total net assets were $269 million. For more information, please visit the Small Cap Fund page.
About the Mairs & Power Minnesota Municipal Bond ETF
The Mairs & Power Minnesota Municipal Bond ETF was the first exchange traded fund invested primarily in Minnesota municipal bonds. Launched on March 12, 2021, the actively managed Fund seeks current income that is exempt from federal and Minnesota state income tax, consistent with the preservation of capital. As of June 30, 2026, the Fund's total net assets were $46 million. For more information, please visit the MN Municipal Bond ETF page.