Global private equity and venture capital news and research

Lovell Minnick seeks $550m for mid-market financial services fund

3 Feb 2014

Financial services-focused private equity firm Lovell Minnick Partners is looking to raise $550m for its fourth fund, according to peHUB.

The fund does not have a hard cap, and is seeking more than the $450m it raised for Fund III back in 2010.

Lovell Minnick is targeting a first closing before the end of March, the report said, with fundraising aiming to be completed by the summer

Founded in 1999, Lovell Minnick focuses exclusively on the mid-market financial services space, targeting investments between $20m and $80m in each portfolio company.

At the close of 2013, Fund III was generating a net IRR of 12 per cent, according to peHUB, while Fund II was producing a net IRR of 13.5 per cent.

Copyright © 2014 AltAssets




Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: WeWork 4001, 1 Fore Street, London, EC2Y 5EJ
Content is © AltAssets 2000-2016