Lovell Minnick Buys 361 Capital Stake

Jun 10 2014 | 9:55am ET

Lovell Minnick Partners, a private equity firm focused on financial services, has taken a minority stake in liquid alternatives specialist 361 Capital. Terms of the transaction were not disclosed.

“Lovell Minnick is a preeminent private equity firm with a long track record of successful investing in asset management businesses,” said Tom Florence, CEO of 361 Capital, in a statement. “The firm’s stake in 361 Capital strengthens our investment capabilities and positions us for significant growth.” Florence said the ability to leverage Lovell Minnick’s “deep relationships within the industry” will help to accelerate 361 Capital’s expansion.

361 Capital has undertaken a growth strategy aimed at adding new funds through partnerships and expanding its distribution pipeline. The firm plans to partner with hedge fund managers and managers of alternative mutual funds, who will serve as sub-advisors to the new funds. Distribution will be carried out through a hybrid strategy that leverages marketing automation, technology and a strong sales force, with a focus on reaching registered investment advisors.

Jeff Lovell, chairman of Lovell Minnick Partners, said 361 Capital is well-positioned to capitalize on the long-term opportunities in liquid alternatives.

“We are very excited about the growth potential for liquid alternatives,” said Lovell in a statement. “361 Capital has a management team with a unique combination of proven success in alternative investing and considerable experience with mutual fund distribution. This gives us great confidence in their ability to execute their business plan and become a leader in the space, and we are pleased to partner with them in supporting their growth.”

Lovell Minnick Partners is an independent, management-owned private equity firm providing buyout and growth capital to companies in the financial services industry. With offices in Philadelphia and Los Angeles, Lovell Minnick manages private equity partnerships that have raised over $1.1 billion in committed capital.

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