Lovell Minnick Closes Fund V at $1.28B Hard Cap, Targeting Financial & Business Services Investments

PHILADELPHIA, LOS ANGELES and NEW YORK – SEPTEMBER 10, 2019 – Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business services companies, today announced that it has completed fundraising for Lovell Minnick Equity Partners V LP (“Fund V”) at $1.28 billion. Fund V, which was oversubscribed, exceeded its $1 billion target and achieved its hard cap.

Lovell Minnick secured commitments to Fund V from a diverse group of investors including U.S. and international public and private pension funds, insurance companies, endowments and foundations, asset managers and family offices.

“We are grateful for the strong support we received from existing investors, as well as confidence in our strategy from many new investors in the U.S. and abroad,” said Steve Pierson, Managing Partner at Lovell Minnick Partners. “Fund V will enable us to continue pursuing our proven thematic approach to investing and partnering with outstanding management teams to support them in growing their companies.”

“Our successful fundraise and the appeal of our strategy reflects our proven demonstrated ability to consistently drive positive investment outcomes, and we continue to see strong demand for our capital and business-building expertise in some of the most compelling subsectors within financial and business services today,” said Robert Belke, Managing Partner at Lovell Minnick Partners.

Lovell Minnick’s Fund V will continue the same focused strategy as its predecessor funds, investing in middle market businesses in the Americas and Europe where the firm can apply its industry experience, vast network and business-building acumen to help them grow. Lovell Minnick will generally target equity investments of between $40 million and $150 million, although it has in the past and expects in the future to complete much larger investments with co-investors.

“We’re excited to begin the next chapter of our growth as we celebrate the closing of Lovell Minnick’s oversubscribed fifth fund and the firm’s 20th anniversary. We look forward to continue serving as trusted stewards of our investors’ capital amid the rapidly changing and growing opportunity set in the financial services industry,” said Jeffrey Lovell and James Minnick, Co-Chairmen at Lovell Minnick Partners.

With the closing of Fund V, Lovell Minnick has raised $3.3 billion since its inception in 1999. Lovell Minnick has had a busy 2019, investing in three new platforms: real estate data provider ATTOM Data Solutions, FX trading technology solutions provider oneZero and real estate software company Inside Real Estate; successfully exiting three portfolio companies: Commercial Credit, J.S. Held and Worldwide Facilities; and completing nine add-on acquisitions across its portfolio.

Evercore Private Funds Group acted as exclusive global placement agent, and Kirkland & Ellis LLP as fund formation counsel, to Lovell Minnick.

About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. We partner with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since our inception in 1999, we have become a leader in our chosen space, raising $3.3 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. To date, we have completed more than 50 portfolio company investments.

We seek companies in the Americas and Europe where we can apply our industry expertise and business-building acumen to drive attractive outcomes. Targeted investment areas include asset management, wealth management, specialty finance, insurance brokerage and services, financial and insurance technology, payments, and related business services. For more information, please visit www.LMpartners.com.