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Lovell Minnick Equity Partners III tops USD450m at final closing

Lovell Minnick Partners, a private equity firm providing buyout and growth capital to companies in the financial services industry, has completed the final closing of Lovell Minnick Equity Partners III.

The fund surpassed its USD350m target by raising USD455m from institutional and private investors.

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.

The investment of the fund is managed by the Lovell Minnick Partners’ team operating from offices in California and Pennsylvania.

Returning limited partners were led by commitments from 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.

Credit Suisse Securities (USA) acted as Lovell Minnick Partners’ exclusive placement agent for the fundraising and Kirkland & Ellis served as its legal adviser.

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