Lovell Minnick Partners enters strategic partnership with 361 Capital

Lovell Minnick Partners, Philadelphia-based private equity firm is taking an ownership interest in 361 Capital which provides liquid alternatives to retail investors. Terms of the transaction were not disclosed.

361 Capital is based in Denver and offers a range of hedged mutual funds to retail investors through distribution platforms. Lovell Minnick is taking over the interest from DST Systems, which was a “passive investor,” 361 Capital CEO Thomas Florence tells Private Equity International. “Lovell Minnick will be a strategic investor that will help us grow.”

Fund of funds manager Lighthouse Partners also has a minority interest in the firm.  Florence says that Lovell Minnick will be the only relationship of this type for 361.

361 recently announced a comprehensive growth strategy aimed at launching new funds and building its sub-advisor pipeline. “We are very excited about the growth potential for liquid alternatives,” Jeff Lovell, Chairman of Lovell Minnick Partners, said.

Lovell Minnick recently promoted Jason S. Barg and Trevor C. Rich to Principal. Barg and Rich are members of the investment team that is completing the investment of Lovell Minnick Equity Partners III LP. They have been involved with portfolio companies such as HD Vest Financial Services, Kanaly Trust, Keane, Matthews International Capital Management, Mercer Advisors, and TriState Capital.

Lovell Minnick is in the market on its fourth fund which has a target of $550 million and is expected to close later this summer, according to Private Equity International’s research and analytics division.