Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in middle market financial and related business services companies in North America and Europe.[1]
History and structure
[edit]Lovell Minnick was founded in 1999 by financial services executives Jeffrey D. Lovell and James E. Minnick. The firm currently has offices in Philadelphia, Los Angeles and New York.
The firm has raised over $6 billion in committed capital since inception from institutional investors such as public and private pension funds, insurance companies, endowments and foundations.[2] The firm has invested in more than 50 portfolio companies and made over 200 add-on acquisitions in the last 25 years.[3] Some of the firm’s notable previously owned investments include ALPS, J.S. Held, Worldwide Facilities, Duff & Phelps, and AssetMark. More recent investments include SRS Acquiom, Mercer Advisors (which was sold to Oak Hill Capital in 2019), Foreside Financial Group, CenterSquare Investment Management,[4] Tortoise Capital Advisors, and Inside Real Estate.[5]
Strategy
[edit]Lovell Minnick Partners targets portfolio companies across financial services and business services. Some of the areas of specialization include wealth management, insurance brokerage and services, payments, financial and insurance technology, and business services.[6][7]
Fund summaries:[3]
| FUND | AMOUNT | VINTAGE | SELECT INVESTMENTS |
|---|---|---|---|
| FUND I | $105 Million | 2000 | AssetMark, Duff & Phelps, Stein Roe Investment Counsel |
| FUND II | $224 Million | 2005 | ALPS, Seaside National Bank & Trust, Mercer Advisors |
| FUND III | $456 Million | 2010 | Lincoln Investment Planning, Matthews, H.D. Vest, First Allied, Commercial Credit |
| FUND IV | $750 Million | 2015 | CenterSquare Investment Management, J.S. Held; Engage People, Tortoise Capital Advisors, Worldwide Facilities, Foreside |
| FUND V | $1.28 Billion | 2019 | oneZero, Fortis, Pathstone, Warner Pacific, W1M, Xactus |
References
[edit]- ↑ "Lovell Minnick Partners Website". Lovell Minnick Partners. Retrieved 15 February 2018.
- ↑ "Lovell Minnick to seek $1 bln with latest flagship: sources". PE Hub, February 5, 2018. Retrieved 15 February 2018.
- 1 2 "Lovell Minnick Portfolio". (company website). Retrieved 15 February 2018.
- ↑ "BNY Mellon to sell CenterSquare to Lovell Minnick". Pensions & Investments, September 20, 2017.
- ↑ "Investing Firm Tortoise to Be Acquired by Group of Private-Equity Companies". Wall Street Journal, October 18, 2017. Retrieved 15 February 2018.
- ↑ "LBO Profile: Lovell Minnick Seeks Big Returns From Small Financial-Services Deals". Wall Street Journal Pro, July 5, 2016. Retrieved 15 February 2018.
- ↑ "The Fintech Finance 40: Steven Pierson". Institutional Investor, January 15, 2018. Retrieved 15 January 2018.