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Financial services-focused PE firm Lovell Minnick closes on $455m

3 Feb 2010

Lovell Minnick Partners, a private equity firm that provides buy-out and growth capital to companies in the financial services industry, has raised $455m for its latest fund. Lovell Minnick Equity Partners III exceeded its target of $350m.

Returning limited partners included PPM America Capital Partners, HighVista Strategies, Invesco Private Equity and WP Global Partners. A broad range of institutional investors came on board as new limited partners for the fund, including Credit Suisse Customized Fund Investment Group, Kemnay Private Equity, Nationwide Mutual Insurance Company, Private Advisors, RCP Advisors, Twin Bridge Capital Partners and Washington University of St Louis.

The fund focuses on middle-market investments in the financial services sector, including asset management, financial product distribution, outsourced administration services, investment banking and securities brokerage, commercial and trust banking, and related business services.

Lovell Minnick Partners operates from offices in the Los Angeles and Philadelphia areas and manages more than $800m.

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