Sun, Nov 17, 2019
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Lovell Minnick hits $1.28bn hard cap for fifth middle market fund close

Wednesday, September 11, 2019

Laxman Pai, Opalesque Asia:

Financial services-focused private equity firm Lovell Minnick Partners has hit a $1.28bn hard cap for the final close of its latest flagship fund.

As private equity firms continue benefit from strong demand for alternative investments, Lovell Minnick Equity Partners V LP (Fund V) exceeded its $1bn target and closed at its hard cap, the maximum amount allowed for the fund, according to a statement.

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.

Investors in Fund V include the $111.1bn New York State Teachers' Retirement System, Albany, and the $69.3bn Massachusetts Pension Reserves Investment Management Board, Boston.

"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," he added.

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, va......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. PE/VC: Private equity is the new stock, Private equity fundraising in the US hits all-time high, Foreign private equity firms lead $152bn blitz on London Stock Exchange[more]

    Private equity is the new stock From Institutional Investor: The traditional portfolio of stocks and bonds needs an alternative investment shake-up after failed monetary policy, according to executives at JPMorgan Chase & Co.'s asset management unit. "We are in an odd cyclical posit

  2. Opinion: Cliff Asness: It's 'time to sin'[more]

    From Institutional Investor: Timing the market can be "deceptively difficult," as quantitative investor Cliff Asness has pointed out before. But now, the AQR Capital Management co-founder believes that while factor timing is "an ugly thing," it is "about time we did some" - specifically when it com

  3. Investing: Hedge fund Whitebox places big bet on gunmaker Remington, Quant funds exit Japanese bonds in worst sell-off since 2013[more]

    Hedge fund Whitebox places big bet on gunmaker Remington From Reuters: Whitebox Advisors LLC, a credit-focused hedge fund, has been quietly capitalizing on Wall Street's ambivalence toward gun manufacturers by replacing some banks as a lender to Remington Outdoor Company. Whitebox

  4. Tech: Investors race to tech start-ups despite SoftBank stumbles, Two Sigma launches risk management software[more]

    Investors race to tech start-ups despite SoftBank stumbles From FT: Investors are planning to pour billions more dollars into later stage tech start-ups, even as Japan's SoftBank reels from a succession of faltering bets. Stephen Schwarzman's Blackstone plans to raise between $3bn and $4b

  5. Regulatory: Carried interest tax rules slated for 2020, official says[more]

    From Bloomberg: The Treasury Department is planning to issue regulations restricting how hedge fund managers can claim a valuable tax break early next year, a top Treasury official said. The regulations will likely bar money managers from using S corporations to take advantage of an exemption